Gold price today drops: Experts predict latest Gold rate

Gold prices on Monday fell even as analyst stated that Gold rate is expected to retest $3,500-mark. Spot gold was down 0.8 per cent at $3,329.78 an ounce. U.S. gold futures fell 1.1 per cent to $3,329.20. This comes after US President Donald Trump reversed course on his threat to impose 50 per cent tariffs on goods from the European Union from June 1, reducing demand for the safe-haven asset.

Markets in the United States are closed on Monday due to public holidays. “With U.S. Memorial Day, activity is likely to be on the lower end today,” said Giovanni Staunovo, UBS analyst.

Gold prices recorded their best week in six last week, after Trump renewed tariff threats on EU goods and said he was considering a 25 per cent tariff on any Apple iPhones that are sold in the U.S. but not made there.
“We still look for higher prices over the coming months, expecting the yellow metal to retest the level of $3,500/oz,” Staunovo said.

Citi on Sunday upgraded its zero-to-three month price target for gold back to $3,500/oz – from $3,150 on May 12 – amid U.S tariff policies, geopolitical risks and concerns around the U.S. budget. The bank expects gold prices to consolidate between $3,100/oz and $3,500/oz.

Meanwhile, China’s net gold imports via Hong Kong more than doubled in April from March, and were the highest since March 2024, Hong Kong Census and Statistics Department data showed on Monday.Spot silver fell 0.5 per cent to $33.31 an ounce, platinum was down 0.8 per cent to $1,086.2 and palladium lost 0.7 per cent to $985.51.

FAQs

Q1. What are prices of Silver, Platinum, Palladium?
A1. Spot silver fell 0.5 per cent to $33.31 an ounce, platinum was down 0.8 per cent to $1,086.2 and palladium lost 0.7 per cent to $985.51.

Q2. How is gold performing?
A2. Gold prices recorded their best week in six last week, after Trump renewed tariff threats on EU goods and said he was considering a 25 per cent tariff on any Apple iPhones that are sold in the U.S. but not made there.