Louise Street, Senior Markets Analyst at WGC, said that gold recorded 26 per cent appreciation in the first half of the year in dollar terms, outperforming many major asset classes.With such an impressive start to the year, it is possible that gold could trade within a relatively narrow range in the latter half of 2025. On the other hand, the macroeconomic environment remains highly unpredictable, which may underpin further gains for gold. Any material deterioration in global economic or geopolitical conditions could further amplify gold’s safe-haven appeal, potentially pushing prices higher still, she added.
On Wednesday, the U.S. Federal Reserve left interest rates unchanged as widely excepted but Powell said it was too soon to say whether the Fed would cut rates at its next meeting in September. Gold tends to perform well in a low-interest-rate environment.
Global gold demand, including over-the-counter (OTC), trading rose by 3 per cent year-on-year to 1,248.8 metric tons in the second quarter of 2025 as investment jumped 78 per cent, the World Gold Council said on Thursday.
Focus now shifts to U.S. core PCE index data due later in the day, followed by U.S. non-farm payrolls on Friday for more cues on Fed rate path.
Elsewhere, spot silver was down 0.5 per cent at $36.95 per ounce, platinum rose 0.4 per cent to $1,318.20, and palladium gained about 1 per cent to $1,216.27.
Q1. What are current gold prices?
A1. Spot gold was up 1.1 per cent at $3,312.03 per ounce. U.S. gold futures gained 0.4 per cent to $3,309.
Q2. What are current silver prices?
A2. Spot silver was down 0.5 per cent at $36.95 per ounce, platinum rose 0.4 per cent to $1,318.20, and palladium gained about 1 per cent to $1,216.27.