Gold may continue to rise this year, supported by safe-haven demand amid heightened geopolitical tensions and fears over a potential trade war hurting economic growth, ICICI Securities said in its outlook for 2025.
Geopolitical tensions in the Middle East and Eastern Europe may continue to make gold valuable as a hedge against uncertainties.
Major central banks could continue to ease monetary policy with inflation hitting near their targets, it said, adding that central banks may also keep buying gold to diversify their reserves. However, a strong dollar and a rise in U.S. Treasury yields may provide some headwinds to gold prices.
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