Gold prices slipped on Tuesday as investors booked profits following a record high, yet remained bullish amidst fears of a global trade war spurred by U.S. President Donald Trump’s new tariffs.
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Volatility in gold and silver prices will continue this week
“We expect gold (XAU/USD) and silver (XAG/USD) prices to remain volatile this week amid volatility inthe dollar index and concerns over the US tradewar and ahead of US Fed chairman’s testimony,”.
Gold nears all-time high as Trump’s tariff threats boost safe-haven demand
Gold prices firmed on Monday, and hovered near a record high hit in the previous session, as investors sought refuge in the safe-haven asset after U.S. President Donald Trump’s decision to impose fresh tariffs sparked concerns of a global trade war.
Will the price of gold continue to rise in the long term?
Gold hit new record highs in both domestic and overseas markets last week. Uncertainty over US trade tariffs boosted gold’s safe-haven appeal. Strong overseas prices, a record weak Indian rupee and steady demand lent additional support to domestic prices.
India left China behind in gold purchase
The demand report said that “by far the biggest contributor to the weakness in volumes has been China.” On an annual basis, a review of past gold demand reports shows that India’s gold demand was higher than China’s for the first time since 2012.
Rise in gold and silver in domestic and international markets
The April futures contract of gold on MCX opened lower by 0.04% or Rs 30 at Rs 83,253 per 10 gram on Tuesday, while the March futures contract of silver was trading lower by 0.06% or Rs 57 at Rs 94,200 per kg.
Gold Price Today: Yellow Metal Makes New High, Crosses Rs 80,730/10gms mark
MCX Gold April futures contracts on the MCX rose 0.15% (Rs 124) today, reaching a new all-time high of Rs 80,730 per 10 grams, marking the 2nd consecutive session of price gains.