{"id":15540,"date":"2025-04-18T15:04:35","date_gmt":"2025-04-18T15:04:35","guid":{"rendered":"https:\/\/www.briskmarkets.com\/blog\/?p=15540"},"modified":"2025-04-18T15:04:35","modified_gmt":"2025-04-18T15:04:35","slug":"gold-hits-historic-high-amid-declining-confidence-in-the-dollar","status":"publish","type":"post","link":"https:\/\/briskmarkets.com\/blog\/gold-hits-historic-high-amid-declining-confidence-in-the-dollar\/","title":{"rendered":"Gold hits historic high amid declining confidence in the dollar"},"content":{"rendered":"\n

Gold has just surpassed $3,300 an ounce, hitting a historic high. This won’t be the last this year, if our forecast in the 2025 Gold Outlook continues to hold firm.<\/p>\n\n\n\n

But this moment has led many investors<\/a> to wonder: are they selling their gold and maintaining their gains or buying more, hoping that this is just the beginning or another rally.<\/p>\n\n\n\n

Despite our optimism about gold prices, we believe there is a better way to think about gold ownership that breaks the stalemate of buying and selling completely.<\/p>\n\n\n\n

Gold did not rise, but the dollar fell. There is no such thing as a bull market for gold without a bear market for the dollar. One is the opposite of the other.<\/p>\n\n\n\n

“Today we are witnessing a bull market for gold for a very different reason than in 2009-2011. It’s not about fear of rising consumer prices, it’s about falling into the trap of an increasingly obvious Ponzi scheme.”<\/p>\n\n\n\n

Not the consumer price index, nor ETF flows, nor even central bank purchases (though we monitor them as well). It’s about trusting \u2013 or missing \u2013 non-refundable fiat currencies.<\/p>\n\n\n\n

Gold imports in February decreased by about 62%, while they increased by 40.8% in January and 55.39% in December 2024.<\/p>\n\n\n\n

The rise in gold imports pushed the country’s trade deficit (the difference between imports and exports) rise to USD$21.54 in March. It touched an all-time high of US$282.82 billion in the last fiscal year.<\/p>\n\n\n\n

Gemstone and jewelry exports during the month increased by 10.62% year-on-year to reach around US$3 billion. However, it fell 8.84% to US$29.82 billion in 2024-2025, from US$32.7 billion in 2023-2024.<\/p>\n\n\n\n

Gold imports jump amid weak dollar and global tensions<\/strong><\/h2>\n\n\n\n

After recording negative growth, the country’s gold imports, which are affecting the current account deficit, jumped 192.13% to reach $4.47 billion in March, as a result of a significant increase in the prices of the yellow metal, according to Commerce Ministry data. Gold imports amounted to US$1.53 billion in January 2024.<\/p>\n\n\n\n

Cumulatively, inbound shipments during April and March 2024-2025 increased by 27.27% to reach US$58 billion, compared to US$45.54 billion in 2023-2024.<\/p>\n\n\n\n

The increase in imports also indicates strong investor confidence in the precious metal as a safe haven asset. Other reasons include asset diversification towards gold due to global uncertainty, increased demand from banks, and higher prices.<\/p>\n\n\n\n

On April 17, gold prices rose by 70 Indian rupees to reach a new record high of 98,170 Indian rupees per 10 grams in the national capital. Prices rose to record highs as a weaker dollar, escalating trade war tensions, and growing concerns about global economic growth following US President Donald Trump’s tariff announcements.<\/p>\n\n\n\n

However, silver prices fell by 1400 rupees to 98,000 rupees per kilogram. The white metal had settled at 99,400 rupees per kilogram at the previous market close.<\/p>\n\n\n\n

Silver imports in March contracted by 85.4% to $119.3 million. It decreased by 11.24% year-on-year in 2024-2025 to reach US$4.82 billion.<\/p>\n\n\n\n

Switzerland is the largest exporter of gold imports, with a share of around 40%, followed by the United Arab Emirates (over 16%) and South Africa (around 10%).<\/p>\n\n\n\n

The precious metal accounts for 8% of the country’s total imports. In terms of volume, imports fell to 757.15 tons in 2024-2025 from 795.32 tons in 2023-2024.<\/p>\n\n\n\n

The rise in gold highlights Bitcoin’s status as a safe haven.<\/strong><\/h2>\n\n\n\n

Gold prices outperformed amid ongoing uncertainty over tariffs and the trade war between China and the United States. The yellow metal hit a historic high of $3,357 an ounce on Thursday before falling to $3,327 at the time of writing.<\/p>\n\n\n\n

While the price of Bitcoin has stabilized since its April 7 low of $74,572, its rise remains limited to below $85,000. However, outflows from Bitcoin exchange-traded funds (ETFs), as observed since April 1, indicate that investors prefer to reduce their risk exposure and possibly buy gold. In two weeks, Bitcoin exchange-traded funds recorded inflows for just four days, compared to nine days of outflows.<\/p>\n\n\n\n

On the positive side, Bitcoin continues to outperform equities, surpassing the volatility seen in the stock markets under President Trump’s tariff policy. China was hit by a whopping 245% tariff this week. Technology stocks, such as Nvidia, suffered bigger declines as China expanded its trade war to include rare earth metals.<\/p>\n\n\n\n

Although it has not attracted a safe-haven demand like gold, which hit a record high of $3,357, its relative stability has emerged in a week marked by growing global uncertainty, according to the weekly K33 Research report.<\/p>\n\n\n\n

Bitcoin price could rise 15% to $97,938<\/strong>.<\/strong><\/h3>\n\n\n\n

Bitcoin’s price is slightly below the 50-day and 200-day exponential moving averages (EMAs) at the time of writing on Friday, as bulls try to push to break the bearish wedge pattern shown on the daily chart. A falling wedge indicates a possible bullish reversal of the price of Bitcoin, indicating fading bearish momentum.<\/p>\n\n\n\n

<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Gold has just surpassed $3,300 an ounce, hitting a historic high. 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