Gold Rates Break All Records – Check the Shocking New Price!
Gold prices soared to a record high on Thursday, driven by global economic uncertainties. Investors have turned to gold as a safe-haven asset, pushing its value to new peaks.
Gold prices soared to a record high on Thursday, driven by global economic uncertainties. Investors have turned to gold as a safe-haven asset, pushing its value to new peaks.
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Gold Prices Surge on MCX
On the Multi Commodity Exchange (MCX), 24-carat gold April futures rose 0.21%, reaching Rs 86,875 per 10 grams.
Global Uncertainty Driving Gold Demand
The surge in gold prices is largely attributed to market instability and economic concerns. Uncertainty surrounding US President Donald Trump’s tariff policies has led to a shift in investor sentiment toward gold.
As a result, international gold prices have also climbed, touching $2,945 per ounce on March 13.
Gold Spot Prices in India
According to the Indian Bullion Jewellers Association (IBJA), the spot prices of gold in India were:
- 24-carat gold: Rs 86,670 per 10 grams
- 22-carat gold: Rs 84,590 per 10 grams
- 20-carat gold: Rs 77,140 per 10 grams
- 18-carat gold: Rs 70,200 per 10 grams
- 14-carat gold: Rs 55,900 per 10 grams
Also Read: Indian Stock Market Opens Higher Ahead of Holi
US Inflation and Interest Rate Cuts Impacting Gold Prices
- Lower US inflation is supporting higher gold prices.
- Inflation in the US was recorded at 2.8%, lower than the expected 3%.
- Experts believe this data will impact gold prices in the coming weeks, as it increases the likelihood of interest rate cuts by the US Federal Reserve.
Gold ETFs and Trade War Concerns Boost Bullish Sentiment
- Increased inflows into gold exchange-traded funds (ETFs) have strengthened bullish trends in the market.
- Trade war fears are also fueling the gold rally.
- President Trump recently imposed a 20% tariff on Chinese goods and a 25% tariff on imports from Mexico and Canada, raising concerns over global economic stability.
Outlook for Gold Prices
Analysts predict that gold demand will remain strong in the short term, given ongoing economic uncertainties, trade tensions, and interest rate expectations. Investors continue to look at gold as a hedge against market volatility.
