Moneycontrol PRO
HomeNewsBusinesscommoditiesGold holds longest winning streak since February on economy woes

Gold holds longest winning streak since February on economy woes

Bullion was steady at around $3,383 an ounce in early Asian trading, after gaining more than 3% over the previous four trading sessions

August 06, 2025 / 07:08 IST
Gold has climbed nearly 30% this year as investors have sought safety amid heightened trade conflicts, geopolitical tensions and eroding trust in dollar-denominated assets

Gold has climbed nearly 30% this year as investors have sought safety amid heightened trade conflicts, geopolitical tensions and eroding trust in dollar-denominated assets

Gold held its longest streak of gains since February, boosted by fears of a US economic slowdown that have increased haven demand, along with traders’ bets on lower interest rates.

Bullion was steady at around $3,383 an ounce in early Asian trading, after gaining more than 3% over the previous four trading sessions. In the US, the latest sign of tariff-inflicted damage on the economy came from data that showed the services sector effectively stagnated in July. Other figures last week highlighted a weak labor market and consumer spending.

Signs of weakness in the world’s biggest economy have spurred wagers on the Federal Reserve easing monetary policy at its next meeting in September, with traders seeing a 90% chance of a cut. Lower rates are typically supportive of non-interest paying bullion.

Gold has climbed nearly 30% this year as investors have sought safety amid heightened trade conflicts, geopolitical tensions and eroding trust in dollar-denominated assets. Still, the precious metal has been range-bound over the past few months, lacking new catalysts to surge past its record high of about $3,500 an ounce reached in April.

Bullion was steady at $3,383.09 an ounce as of 8:19 a.m. Singapore time. The Bloomberg Dollar Spot Index was flat. Silver and palladium were little changed, while platinum edged lower.

Bloomberg
first published: Aug 6, 2025 07:07 am

Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Subscribe to Tech Newsletters

  • On Saturdays

    Find the best of Al News in one place, specially curated for you every weekend.

  • Daily-Weekdays

    Stay on top of the latest tech trends and biggest startup news.

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347