Back
Other Markets - Bullion Markets
MCX gold jumps to ₹93736 on safe-haven demand
11-Apr-2025, 03:26
Gold surged to a new record near $3250 per ounce in Asian electronic trading on Friday, supported by a weaker US dollar and strong safe-haven demand amid rising US-China trade tensions. China raised tariffs on US goods to 125% and announced it will ignore further US responses, after the White House's tariffs reached 145%. These measures now affect nearly $700 billion in annual trade, pressuring global risk assets and driving investors toward bullion. On the monetary front, the Federal Reserve gave no sign of stepping in to curb rising long-term yields, but soft March CPI data boosted hopes of rate cuts this year. This added further support to gold prices. On MCX, April gold futures rallied by nearly ₹1500 to ₹93420 per 10 grams, touching an intraday high of ₹93736.
Gold surged to a new record near $3250 per ounce in Asian electronic trading on Friday, supported by a weaker US dollar and strong safe-haven demand amid rising US-China trade tensions. China raised tariffs on US goods to 125% and announced it will ignore further US responses, after the White House's tariffs reached 145%. These measures now affect nearly $700 billion in annual trade, pressuring global risk assets and driving investors toward bullion. On the monetary front, the Federal Reserve gave no sign of stepping in to curb rising long-term yields, but soft March CPI data boosted hopes of rate cuts this year. This added further support to gold prices. On MCX, April gold futures rallied by nearly ₹1500 to ₹93420 per 10 grams, touching an intraday high of ₹93736.
Powered by Capital Market - Live News