Gold prices in India surged to a record high of Rs 96,450 per 10 grams, driven by strong demand and escalating US-China trade tensions. Global spot gold reached USD 3,237.39 per ounce, fueled by safe-haven demand amid economic uncertainty. Analysts predict a continued bullish trend for gold due to geopolitical instability and central bank diversification away from the US dollar.
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Gold prices in Delhi fell below Rs 79,000 per 10 grams due to low stockist and retailer demand. Silver experienced a significant drop as well. Analysts cite geopolitical uncertainties, interest rate cuts, and robust demand from central banks and high-net-worth individuals as factors for the previous surge. Thin trading volumes during the holiday period have kept prices range-bound.
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Donald Trump's tariff threats have added volatility to global stock markets, significantly impacting India. Key sectors like automobiles, pharmaceuticals, textiles, and steel are at risk. Despite challenges, India's markets show resilience, and experts see current conditions as an investment opportunity. India's diplomatic approach could mitigate risks, aiming to attract foreign investments and reduce tariffs on US imports.
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