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Gold Holds Near Record Highs Amid Pullback Concerns

Gold hovers near record highs after a strong rally, but traders are cautious as profit-taking and easing geopolitical tensions could trigger a pullback. Spot gold remains above $4,000 amid global uncertainties and strong demand for safe-haven assets.
01:26 PM Oct 09, 2025 IST | Aakash Khuman
Gold hovers near record highs after a strong rally, but traders are cautious as profit-taking and easing geopolitical tensions could trigger a pullback. Spot gold remains above $4,000 amid global uncertainties and strong demand for safe-haven assets.
Gold

Gold held steady near $4,040 an ounce, just below Wednesday’s record of $4,059. Earlier in the session, bullion dipped nearly 1% as traders assessed whether recent gains had left it overbought. Technical indicators suggest gold has been trading in overbought territory for the past month, prompting some investors to take profits.

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Ceasefire News Impacts Haven Demand

Gold’s safe-haven appeal took a potential hit after US President Donald Trump announced that Israel and Hamas agreed on terms for the release of all hostages in Gaza. This development, part of US- and Qatari-mediated negotiations to end the two-year conflict, may reduce urgency for investors to seek bullion as a hedge.

Analyst Perspective

“Profit-booking from all-time highs and updates regarding a ceasefire could now weigh on gold,” said Manav Modi, analyst at Motilal Oswal Financial Services Ltd. Investors are carefully watching whether geopolitical developments will alter bullion demand.

Strong Yearly Gains Support Market

Despite recent volatility, gold remains over 50% higher this year, supported by concerns over global trade, US fiscal stability, and the Federal Reserve’s independence. Central banks have continued large-scale bullion purchases, while geopolitical tensions have further boosted demand for safe-haven assets.

Other Metals Performance

Spot gold edged down 0.1% to $4,039.59 as of 1:47 p.m. in Singapore. Meanwhile, palladium rose as much as 2.3% following recent strong gains, silver inched higher near its historical peak, and platinum remained largely unchanged. The Bloomberg Dollar Spot Index fell 0.2%, reflecting broader currency movements impacting the metals market.

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bullion demandeconomy newsgeopolitical tensionsglobal trade uncertaintygoldgold marketgold pricegold record highhind firsthind first englishhind first newspalladiumplatinum pricesafe-haven assetssilver pricespot gold
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