Gold Near Record Highs as Safe-Haven Demand Strengthens

Gold prices rebounded this week after a brief correction, with global economic and geopolitical uncertainties driving renewed safe-haven buying. A softer US dollar and steady Treasury yields further boosted sentiment, helping the precious metal stay close to its all-time peak levels.

In the international market, spot gold traded around $3,970 per ounce, up nearly 1% from the previous session. Domestically, prices on the MCX hovered near ₹119,900 per 10 grams, supported by a mild rupee weakness and bullish global cues. Silver also edged higher in line with the broader trend in bullion.

Analysts note that continued central bank and ETF accumulation, investor hedging, and expectations of market volatility are underpinning the rally. While gold faces resistance at the $4,000 mark, a decisive breakout could unleash further momentum. Traders now await upcoming US inflation and employment data to gauge the Fed’s rate path, which may set the tone for gold’s next major move.

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