Gold hits new high, climbs over Rs 95,000

Wed, 16 April 2025

16:12

There's no looking back for safe-haven gold amid the global trade uncertainties that have emanated from Trump administration's reciprocal tariffs and Chinese counter tariffs.

Gold prices on Multi Commodity Exchange of India (MCX) touched yet another record high over weak US dollar, and heighted Trump tariffs on China. At the time of filing this report, gold on MCX was at Rs 95,172 per 10 grams, after touching a record high of Rs 95,435.

"Gold prices raced to an all-time high, driven by a weaker dollar, trade war tensions and concerns over global economic growth due to U.S. President Donald Trump's tariff plans which led to safe-haven inflows," said Manav Modi, Senior Analyst, Commodity Research at Motilal Oswal Financial services Ltd.

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