INSUBCONTINENT EXCLUSIVE:
As of the morning of March 11, 2025, the gold price is approximately $2902 per troy ounce
This follows a dynamic day and night session where gold prices experienced fluctuations due to various market factors.On March 10, 2025,
gold prices were influenced by concerns over a potential U.S
economic slowdown, which led to a broad market selloff in stocks and commodities.However, gold steadied after a modest decline, as it often
acts as a safe-haven asset during economic uncertainties
During the night, gold futures prices on the COMEX were around $2901.4 per ounce, reflecting a slight recovery from earlier declines.Global
Gold MarketsCOMEX (New York): The COMEX gold price was around $2901.4 per ounce, indicating a stable position after recent fluctuations.MCX
(India): On the Multi Commodity Exchange (MCX), the gold April contract opened at Rs 85,603 per 10 grams, up from the previous close,
reflecting strong demand in the Indian market.Spot Gold: The spot gold price was around $2897.57 per ounce, showing a slight dip but
maintaining its appeal as a safe-haven asset.Global Gold Market Update: March 11, 2025
(Photo Internet reproduction)Market DriversEconomic Uncertainty: Concerns about a U.S
economic slowdown and geopolitical tensions have driven investors towards gold, supporting its price.Currency Fluctuations: The value of the
Indian Rupee against the U.S
Dollar has impacted gold prices in India, with a weaker Rupee leading to higher gold prices.Demand and Festive Seasons: Increased demand
during wedding and festival seasons in India has also contributed to higher gold prices.Quotes from Market MakersWhile specific quotes from
market makers are not available, analysts note that gold remains a stable asset, providing a hedge against inflation and currency
The recent inflows into gold-backed ETFs indicate strong investor interest in gold as a safe-haven asset.Volumes and ETF
Inflows/OutflowsVolumes: Trading volumes on the COMEX were moderate, with gold futures contracts seeing significant activity as investors
sought safe-haven assets.ETF Inflows: Gold-backed ETFs experienced significant inflows, reflecting increased investor confidence in
gold.Technical AnalysisTechnical analysis suggests that gold prices are moving within a bullish channel, with moving averages indicating an
However, there is a potential for a bearish correction to test support levels near $2865, followed by a rebound and continued growth towards
$3085.The formation of a Double Top reversal pattern could indicate a short-term bearish trend, but a strong price increase above $2995
would signal continued growth.ConclusionThe gold market on March 11, 2025, reflects a mix of economic uncertainty and investor demand for
As global economic conditions continue to evolve, gold is likely to remain a key focus for investors seeking stability.The technical outlook
suggests potential for both short-term corrections and long-term growth, depending on market developments.
