Gold prices in India surged to over ₹83,350 per 10gm today, aligning with global trends as spot gold nears a record $2,830.49 per ounce. Factors like global inflation, geopolitical tensions, volatile markets, central bank purchases, and dollar fluctuations are fueling the precious metal’s ascent.
The US tariff policies on key nations like China, Mexico, and Canada are causing inflation concerns, prompting investors to seek gold as a hedge. Market uncertainty fueled by geopolitical tensions and volatile equities is also driving investors towards gold, a trend supported by global central banks accumulating gold.
The US dollar index exceeding 109 has impacted commodity markets like gold. Bullion banks are relocating gold reserves from Asia to the US for better futures premiums, fueling the current rise in gold prices. Supply-demand dynamics play a key role in this surge.
Market experts expect upcoming US economic data to drive price fluctuations, with the ADP employment report and non-farm payrolls potentially influencing the Federal Reserve’s stance. Rahul Kalantri of Mehta Equities Ltd foresees gold’s bullish trend continuing due to global uncertainty and central bank demand, also highlighting key price levels in India.
Colin Shah, MD of Kama Jewelry, predicts short-term corrections due to a stronger dollar index. Gold prices, influenced by Trump’s tariffs and trade policies, will be vital until 2025. Experts caution investors to choose staggered gold purchases over lump sums and consider gold ETFs or sovereign gold bonds for long-term hedging.
Sources News From Various Digital Platforms, Websites, Journalists, And Agencies.
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