Umair
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The gold price has touched its peak of Rs 87,875 per 10 grams on the MCX. In the international market, safe-haven bullion hit a record high of $2,993.80 and hovered near the key milestone of $3,000.
Trump’s tariffs are widely expected to fuel inflation and economic uncertainty, and have prompted gold, which is seen as a hedge against political risks and inflation, to reach multiple record highs in 2025.
Gold Price Today: Even as the equity markets are under stress due to FII selling amid global uncertainties, gold has surged to its all-time high level both in the domestic market and globally. On the MCX, the gold price on Friday touched its peak of Rs 87,875 per 10 grams. In the international market, safe-haven bullion hit a record high of $2,993.80 and hovered near the key milestone of $3,000.
Experts said gold remains a compelling safe-haven asset in an uncertain environment amid reciprocal tariffs.
Trump’s tariffs are widely expected to fuel inflation and economic uncertainty, and have prompted gold, which is seen as a hedge against political risks and inflation, to reach multiple record highs in 2025.
“Gold posted weekly gains, rising 1.30% in Comex and 1% in MCX, supported by dollar weakness below 103.75 and softer-than-expected CPI data, which reinforced expectations of interest rate cuts in both the US and India. The positive momentum in gold remains intact, but tariff discussions will keep volatility elevated. Any resolution on tariffs could trigger profit booking in gold,” said Jateen Trivedi, vice-president (research analyst-commodity and currency) of LKP Securities.
Globally, bullion recorded a second consecutive weekly increase, with over 2.5 per cent gain.
“The risk-off market stance reflects investors’ expectations that trade tensions are likely to get worse before it cools, and are turning to safe-haven gold once again as a hedge against portfolio volatility,” said IG market strategist Yeap Jun Rong, according to Reuters.
In the latest development of US President Donald Trump’s multi-front trade war, the European Union retaliated to blanket US tariffs on steel and aluminium by imposing a 50% tax on American whiskey exports. In response, the president threatened on Truth Social to impose a 200% tariff on European wine and spirit imports.
“The psychological $3,000 level is now coming into view for gold prices, and as we approach the second quarter, where reciprocal tariffs could trigger another wave of market turbulence, gold remains a compelling safe-haven asset in an environment where alternatives are scarce,” Rong said.
What’s Next?
Investors now await the Fed’s monetary policy meeting, scheduled for Wednesday. The central bank is expected to keep its benchmark overnight interest rate in the 4.25%-4.50% range.
Non-yielding bullion thrives in a low-interest-rate environment.
Meanwhile, Russian President Vladimir Putin said on Thursday Russia supported a US proposal for a ceasefire in Ukraine in principle, but sought a number of clarifications and conditions that appeared to rule out a quick end to the fighting.
(With Inputs From Agencies)
