Gold rates today under pressure. Should you buy as tariff flare, inflation worries are still around

Gold rate today: The MCX gold rate remained under pressure during the early morning session on Friday. Today, the gold futures contract for April 2025 expiry opened with a downside gap at ₹84,899 per 10 gm and touched an intraday low of ₹84,840 within a few minutes of the Opening Bell. Gold prices also witnessed the selling pressure in the international market. Spot gold price oscillates around $2,868 per ounce, whereas the COMEX gold price is around $2879 per troy once, losing around 0.50 per cent from its previous close.

Why are gold rates today under pressure?

According to market experts, the gold price today is under sell-off pressure as the market is expecting two US Fed rate cuts in 2025. They said that investors are booking profit amid the US Fed rate cut and predicted more selling pressure in the precious yellow metal if the MCX gold rate breaks below ₹84,800 per 10 gm decisively.

Gold price today: Major triggers

On reasons that are dragging gold rates today, Kaynat Chainwala, AVP-Commodity Research at Kotak Securities, said, "Traders are now fully pricing in two quarter-point interest rate cuts this year, with weak US economic data bringing forward expectations of these cuts. There is growing anticipation that the Federal Reserve may implement the first rate reduction in June rather than in September, as expected just a week ago. Today, gold is trading 0.5% lower as investors assess the latest tariff announcements from US President Donald Trump and remain cautious ahead of key US economic data.

Jateen Trivedi, VP of Research — Commodity & Currency at LKP Securities, said, "Gold prices traded weak as a sell-off was below $2,915, pushing prices toward $2,880 in Comex. A similar trend was reflected in MCX, where gold declined ₹800, touching ₹85,000. Further weakness may emerge if Comex gold falls below $2,875 and MCX gold breaches ₹84,800. Market participants will closely watch Friday's Core PCE Price Index for further cues. Resistance is seen at ₹85,550 to ₹85,750, while support lies at ₹84,800 to ₹85,000."

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