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As on : 22-May-2025
Other Markets - Bullion Markets
22-May-2025     14:07

Gold hits 2-week high as safe-haven demand surges

Gold futures climbed toward $3350 per ounce on Thursday, marking a fourth straight day of gains and nearing a two-week high. The rally was fueled by renewed safe-haven demand amid heightened geopolitical tensions and deepening concerns over the US fiscal situation. Adding to the momentum, Chinese customs data revealed a sharp rise in gold imports in April to 127.5 metric tonnes, the highest in 11 months. The 73 percent monthly surge came as the People's Bank of China expanded import quotas during a period of escalating US-China trade tensions. Meanwhile, President Trump's apparent retreat from mediating the Russia-Ukraine conflict, along with unrest in the Middle East, has further driven investors toward gold. On the domestic front, MCX gold futures rose ₹506 to ₹96105 per 10 grams, also hitting a two-week high.

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