New Delhi, April 16:— Gold prices in India touched a new peak on Wednesday, with June futures on the Multi Commodity Exchange (MCX) hitting an all-time high of Rs 94,781 per 10 grams, mirroring strong global cues and rising investor appetite for safe-haven assets.
After touching the record in early trade, the contract trimmed some gains but remained elevated, trading at Rs 94,768 — up Rs 1,317 or 1.41 per cent — with an open interest of 21,211 lots.
The rally comes amid intensified global uncertainty surrounding US trade policies, particularly the ongoing tariff standoff with China, which has prompted a shift toward traditional safe havens like gold.
“Gold prices surged to a new all-time high as global investors sought safe-haven assets amid growing uncertainty surrounding US trade policies,” said Rahul Kalantri, Vice President (Commodities) at Mehta Equities Ltd.
Kalantri noted that a weakening dollar also played a key role. “The dollar remained under pressure, trading near two-year lows, which further supported the rally in gold,” he added.
Globally, gold futures surged nearly 2 per cent to hit a record USD 3,289.07 per ounce on the New York exchange — reflecting a broader trend of investors hedging against geopolitical risk and currency fluctuations.
Analysts expect gold to remain volatile but well-supported as long as geopolitical and economic uncertainties persist, especially with the dollar’s weakness and central banks maintaining cautious stances.
