Gold Price Today: Rates have achieved a record height at Trump tariffs; Experts emphasize key MCX levels

Gold Price Today: Gold rates rose to a record high of £ 1,02,191 per 10 grams in the domestic futures market Friday (August 8) morning, as growing fear over Trump rates increased demand for safe haven. The weakness of the dollar also supported gold prices. MCX Gold October 3 contracts traded 0.68 percent higher at £ 1,02,159 per 10 grams, while MCX Silver September 5, September 5, 0.54 percent rose at £ 1,14,904 per kg at 1:15 p.m. After the rates on Indian imports for the purchase of Russian energy doubled, US President Donald Trump said trade negotiations with India will remain until the ongoing tariff dispute has been resolved. Trump has imposed a 50 percent tariff on Indian imports, which, according to experts, will reduce Indian GDP growth by 0.3 percent to 0.6 percent. Trump’s rates on imports from different countries came into effect on Thursday. Meanwhile, the media reports that the US has imposed rates on the import of 1 kilogram gold bars, also fueled the rally in the yellow metal. In a report by Financial Times, it was suggested that the US placed rates on the import of gold bars of 1 kilogram, which handled another trade against Switzerland. Switzerland is the world’s largest GUB for Gold Restation. (This is a developing story. Check out fresh updates.)