As we approach Akshaya Tritiya 2025, gold prices in the domestic futures market experienced a downturn on Wednesday morning. This decline follows a trend from the previous session, influenced by reduced concerns over a potential trade war and its implications for the economy. The strengthening of the U.S. dollar further contributed to this drop. However, the demand for gold remains robust due to the auspicious nature of the occasion, which has helped to mitigate the losses.
Current Gold Prices and Market Trends
- MCX Gold June 5 contracts were trading at ₹95,151 per 10 grams, reflecting a 0.46% decrease around 9:10 AM.
- International gold futures also faced a decline of approximately 0.5%, largely driven by a stronger dollar and diminishing trade tensions between the U.S. and its key trading partners.
Factors Influencing Gold Prices
The interplay between global economic stability and currency strength plays a significant role in gold pricing. Here are some contributing factors:
- Stable Dollar: A robust dollar can limit gold’s appeal as an alternative asset, leading to reduced demand.
- Trade Relations: Easing trade tensions can create a more favorable economic outlook, further impacting gold’s attractiveness.
While the current gold prices show a downward trend, the festive spirit associated with Akshaya Tritiya tends to boost local demand. This cultural significance may provide a counterbalance to the broader market forces at play.
Stay tuned for the latest updates as this story continues to develop.
