Gold Price Today: Yellow metal hits record high of ₹92,400 on MCX over safe-haven appeal; Profit booking eyed?
Gold Price Today: MCX Gold June 5 contract jumped over a per cent to hit a fresh high of ₹91,464 per 10 grams. Around 6:05 PM, the same contract was 1.60 per cent up at ₹91,236 per 10 grams.
International gold prices also rose on trade war uncertainty. Comex Gold jumped nearly 2 per cent during the session.
US President Donald Trump, on Wednesday, announced a 90-day pause on reciprocal tariffs while raising duties on Chinese imports to a staggering 125 per cent.
Gold prices jumped nearly 3% to an all-time high on Thursday, as a drop in the dollar and an escalating trade war between the U.S. and China drove investors towards the safe-haven allure of the precious metal.
Spot gold climbed 2.8% to $3,168.26 an ounce at 11:32 a.m. ET (1532 GMT), after hitting a record high of $3,171.49 earlier in the session. U.S. gold futures rose 3.5% to $3,185.50.
U.S. President Donald Trump said on Wednesday he would temporarily lower hefty duties on dozens of countries, but ramped up the tariff on China to 125% from 104%.
