INSUBCONTINENT EXCLUSIVE:
Gold prices surged to an all-time high of $2,909 per ounce on February 7, 2025, before settling at $2,865.36, driven by escalating United
States -China tariffs, central bank acquisitions, and mixed United States labor data.The metal gained 0.3% on the day, marking its sixth
consecutive weekly rise as investors sought safety amid geopolitical turbulence
to $2,887.60 (+0.38%).China retaliated with levies on United States energy goods, amplifying demand for bullion as a hedge
The UAE saw 24K gold rise 0.4% to AED 345.75 despite higher fuel costs, while Thai jewelry rates held at 46,200 baht.Gold Hits Record Before
Retracting as Trade Wars and Central Bank Rush Fuel Rally
Technical analysts flagged a bullish ascending channel since mid-January, though overbought RSI levels at 72 signaled caution.Immediate
support rests at $2,834, with resistance near the psychological $2,900 mark
Citi Research raised its three-month target to $3,000, citing trade war risks and dedollarization trends.Commerzbank warned of a mid-2025
$3.7 billion in July 2024 inflows, though February 2025 data remains sparse
COMEX futures volume hit 179,327 contracts, with volatility spiking post-payrolls.Central banks purchased over 1,000 tonnes of gold for the
third straight year in 2024
London vaults reported a record 4.9-million-ounce outflow in January as traders shipped metal to capitalize on United States
The metal remains a cornerstone of reserve diversification as policymakers navigate an increasingly fragmented global economy.
