SATURDAY, APRIL 26, 2025
Gold prices hit all-time high, cross INR 86,875 per 10 grams
Published on Mar 13, 2025
By IANS
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- NEW DELHI — Gold prices on Thursday reached a new all-time high amid market uncertainties.
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- On the Multi Commodity Exchange (MCX), 24-carat gold April futures rose by 0.21 per cent, touching Rs 86,875 per 10 grams.
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- The surge in gold prices is mainly driven by global instability. Uncertainty surrounding US President Donald Trump’s tariff policies has led investors to turn to gold as a safe-haven asset.
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- As a result, international gold prices have climbed to $2,945 per ounce on March 13.
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- According to the Indian Bullion Jewellers Association (IBJA), the spot price of 24-carat gold in India was INR 86,670 per 10 grams, while 22-carat gold stood at INR 84,590 per 10 grams.
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- The prices for 20-carat, 18-carat, and 14-carat gold were INR 77,140, INR 70,200, and INR 55,900 per 10 grams, respectively.
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- Experts believe that ongoing trade tensions and tariff uncertainties are pushing investors toward gold.
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- Additionally, a drop in inflation in the US is supporting higher gold prices. Lower inflation increases the likelihood of interest rate cuts, which further strengthens the demand for gold.
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- Recent data from the US showed inflation at 2.8 per cent, lower than the expected 3 per cent. Analysts suggest that this inflation data will influence gold prices in the coming weeks.
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- Jatin Trivedi, a commodity and currency research analyst at LKP Securities, said that the impact of these inflation figures will also be reflected in the US Federal Reserve’s interest rate policy.
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- Meanwhile, strong inflows into gold exchange-traded funds (ETFs) are also driving bullish sentiment in the market.
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- The trade war concerns have further fueled the gold rally. At the beginning of this month, President Trump imposed a 20 per cent tariff on Chinese goods and a 25 per cent tariff on imports from Mexico and Canada.
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- These moves have raised concerns about global economic stability, making gold a preferred choice for investors.
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