Gold Rate Prediction for Akshaya Tritiya 2025

Buying gold on Akshaya Tritiya is considered auspicious in Indian traditions. But what’s the outlook for gold and what factors will drive gold prices in the coming days? Praveen Singh, Senior Fundamental Research Analyst at Mirae Asset Sharekhan, shares his insights.

Current Gold Performance

On April 29, spot gold prices fluctuated between $3,299 and $3,349, settling at $3,322, down around 0.65% for the day. The MCX June contract was noted at Rs 95,640, down by nearly 0.40%.

Despite disappointing US data, spot gold prices were slightly lower as US President Trump signed orders to remove tariffs on some auto imports, and hopes of easing US-China trade tensions persisted.

Economic Data Overview

Recent US data revealed a record trade deficit and lower-than-expected job openings, signaling potential economic slowdown. Consumer confidence also hit a multi-year low, reflecting growing economic concerns among consumers.

Upcoming Economic Indicators

Key data to watch includes ADP employment change, 1Q Advance GDP, and personal consumption figures from the US, alongside Germany's PPI and CPI, and China's manufacturing PMIs.

Gold Market Trends

Global gold ETF holdings have seen a slight decline but remain up nearly 7.5% year-to-date. COMEX gold inventory has decreased, possibly indicating a reversal of gold flow from New York to London.

US-China Trade Relations

Trade tensions between the US and China continue to influence market sentiments. While China has suspended tariffs on some US imports, the overall standoff persists, keeping gold prices supported.

Gold Price Outlook

With ongoing trade uncertainties and weak economic indicators, gold is expected to remain well-supported. Investors are advised to consider dip buying, with resistance levels at $3372-$3400.

Disclaimer: The views expressed are those of the analyst and do not represent the views of The Times of India.