Gold rate prediction: Gold price rises, bullion experts predict what to expect in next three months

Gold rate rose for a third straight session on Friday even as bullion experts have predicted the gold rate is likely to be on the upper trajectory. Spot gold was up 0.4 per cent at $3,334.99 per ounce. U.S. gold futures gained 0.6 per cent to $3,345.30. The development comes as US President Donald Trump's announcement of new tariffs on Canada and broader tariff threats against other trading partners lifted demand for the safe-haven asset.

There is a growing demand for gold as a haven. There are investors looking for some safety assets despite stock markets hitting highs. And any dip in gold is seen as a buying opportunity now, said Carlo Alberto De Casa, an external analyst at Swissquote.

Rising trade tensions have reinvigorated demand for haven assets such as gold amid the prospect of an economic slowdown. The more dovish Fed is also boosting investor appetite, analysts at ANZ wrote in a note.


Gold Rate Factors

Meanwhile, Federal Reserve Governor Christopher Waller on Thursday reiterated his belief the central bank could cut interest rates at its policy meeting later this month. Fed Bank of San Francisco President Mary Daly said two rate cuts remain on the table for this year.

Lower rates boost non-yielding gold's appeal.

All Eyes on Donald Trump

On Thursday, Trump said the United States would impose a 35 per cent tariff on imports from Canada and planned to impose blanket duties of 15 per cent or 20 per cent on most other trade partners. This followed Wednesday's announcement of a 50 per cent tariff on U.S. copper imports and a similar levy on goods from Brazil, along with tariff notifications sent to other trade partners earlier.

Trump also said the European Union could receive a letter on tariff rates by Friday, throwing into question the progress of trade talks between Washington and the 27-nation bloc.

Data on Thursday showed weekly jobless claims in the U.S. fell unexpectedly to a seven-week low, indicating stable employment levels.

Elsewhere, spot silver rose 1 per cent to $37.42 per ounce, platinum fell 0.7 per cent to $1,350.65 and palladium climbed 2.8 per cent to $1,174.06.

FAQs

Q1. What are gold prices?
A1. Spot gold was up 0.4 per cent at $3,334.99 per ounce. U.S. gold futures gained 0.6 per cent to $3,345.30.

Q2. What are silver prices?
A2. Spot silver rose 1 per cent to $37.42 per ounce, platinum fell 0.7 per cent to $1,350.65 and palladium climbed 2.8 per cent to $1,174.06.