Gold prices jumped on rising demand for safe Haven on Thursday after US President Donald Trump increased rates on China, despite his decision to temporarily alleviate steep duties on several other countries. In the previous session, the international golden rate rose 3%. The Indian stock market and the commodity market were closed on April 10 based on Mahavir Jayanti 2025. However, commodity trading will be open at 17:00 for the evening session on Multi Commodity Exchange (MCX). Spot gold prices rose 0.2% to $ 3,089,17 per ounce. Bullion was scaled to a high of $ 3,167.57 on April 3. US Gold Futures rose 0.8% to $ 3,104.90. In the previous session, gold prices rose 2.6%, while US gold futures rose by 3%. MCX gold rate finished at £ 80, or 0.09%, at £ 89,724 per 10 grams on Wednesday. This hit the highlight of the £ 90.853 session. Silver price rose by £ 2,856, or 3.22%, to close at £ 91.600 per kg. Gold prices rose by more than $ 400 in 2025 and scored a record high of $ 3,167.57 on April 3 due to a strong demand for safe Haven and the buying of the central bank, Reuters reports. US-China trading tensions The rally in gold prices came after Trump increased the pressure on China. Trump said it would increase the tariff on Chinese imports to 125% of the 104% level, increasing the tensions between the world’s two largest economies. However, Trump also announced a 90 -day break at higher rates on all countries. In the midst of concerns that rates could attract inflation and hinder economic growth, investors have withdrawn from equities and industrial commodities and sought safety in gold. The yellow metal is traditionally regarded as a haven during periods of political and financial uncertainty. Market participants are now awaiting the release of the US Consumer Price Index later today, followed by the producer price index Friday, for important insights into the Federal Reserve’s interest rate prospects. (With input of Reuters) Disclaimer: The views and recommendations above are those of individual analysts or brokerage companies, and not of currency. We advise investors to check with certified experts before making investment decisions. First Published: 10 Apr 2025, 08:42 AM Ist
Golden Tempo Today: Yellow metal jumps on a safe demand amid the trade tensions of the US-China; Spot gold on over $ 400 in 2025 | Einsmark news
