A slight increase was seen in the prices of gold on December 30. Actually, investors are waiting for clarity regarding US interest rates. Spot gold is up 0.1% at $ 2,622.74 an ounce. On the other hand, gold futures are up 0.1% at $ 2,622.74 an ounce. There is a rising trend in gold in India also. 22 carat gold increased by Rs 150 and reached Rs 7,150.
A market expert said, ‘The dollar index remained stable, which helped in curbing fluctuations in gold prices. Due to geopolitical tensions, gold has seen an increase this year and this trend will continue in 2025 also. Actually, the market is getting ready for possible changes in American policies.
Gold is witnessing a rise of more than 27% this year. On October 31, it reached $2,790.15 an ounce.
gold outlook
Augmont-Gold for All Research Head R. Chainani expects the better trend in gold to continue. He said that gold is expected to remain in the range of Rs 76,000-78,500 in the coming time. However, if gold remains below Rs 76,000, the next target will be Rs 75,000. According to Rahul Kalantri, Vice President, Mehta Equities, there is support for gold at $2,610-$2,591 levels, while resistance can be seen at $2,640-$2,657 levels.
Investment Outlook
Gold became an attractive investment option to protect against inflation and political instability. Also, gold will remain a safe investment option in the long run.