Gold costs surged by ₹6,250 to hit a document excessive of ₹96,450 per 10 grams within the nationwide capital on Friday (April 11, 2025) due to heavy demand from native jewellers and retailers, in accordance to the All India Sarafa Association.
Analysts mentioned the valuable metallic hitting lifetime excessive ranges within the worldwide markets on robust safe-haven demand amid escalating U.S.-China trade tensions boosted the home costs.
On Wednesday, the yellow metallic of 99.9% purity had closed at ₹90,200 per 10 grams.
Follow Trump tariffs updates on April 11
Rebounding after 4 days of sharp fall, gold of 99.5% purity surged by ₹6,250 to contact an all-time excessive of ₹96,000 per 10 grams in opposition to the earlier shut of ₹89,750 per 10 grams.
Silver costs additionally registered a steep rise of ₹2,300 to ₹95,500 per kg, largely in tandem with international traits. The white metallic had closed at ₹93,200 per kg within the earlier market shut.
Bullion markets had been closed on Thursday on the event of Mahavir Jayanti.
Meanwhile, gold futures for June supply climbed by ₹1,703 to hit yet one more lifetime excessive of ₹93,736 per 10 grams on the Multi Commodity Exchange.
“Gold extended its record-setting rally…to hit fresh lifetime highs near ₹93,500 on MCX, defying rupee strength as geopolitical tensions and tariff battles between the U.S. and China escalated further,” Jateen Trivedi, VP Research Analyst of Commodity and Currency, LKP Securities, mentioned.
In the worldwide markets, spot gold jumped to a recent peak of $3,237.39 per ounce. Later, it slipped to $3,222.04 per ounce.
Additionally, Comex gold futures within the Asian market hours rose to hit a document excessive of $3,249.16 per ounce.
Kotak Securities’ AVP- Commodity Research, Kaynat Chainwala, mentioned Comex gold costs jumped to a document excessive as safe-haven demand rose amid escalating U.S.-China trade tensions.
Prices had earlier crossed $3,200 per ounce on April 2, however later retreated on profit-taking. On Thursday, the Trump administration imposed tariffs of up to 145% on Chinese items, prompting retaliatory duties of up to 125% by levied by China.
The heightening issues of deeper retaliation and a looming international financial slowdown weakened the U.S. greenback by slipping under the 100-mark, additional supporting bullion costs, Chainwala mentioned.
According to funding banking firm UBS, the gathering of ongoing issues in monetary markets, such as trade and financial uncertainties, fears of stagflation, recession dangers, and geopolitical tensions — will possible proceed to burnish gold’s attract.
With the U.S. on the coronary heart of the continued trade war, for the long run, gold costs are fairly possible to rise.
The international transfer to diversify reserves away from the U.S. greenback that has seen central banks purchase gold at a document tempo of over 1,000 metric tons yearly over the past three years is unlikely to be impeded by the trade war, the worldwide wealth administration agency mentioned in a notice.
Published – April 11, 2025 05:58 pm IST
