New Delhi:

Trump has now decided to temporarily ease steep duties on several other countries, but uncertainty surrounding the tariff war still remains. In the previous session, the international gold rate spiked 3 per cent. Due to rising safe-haven demand and after the United States of America (USA) President Donald Trump escalated tariffs on China, gold has once again started its uptrend.

As the Indian stock and commodity markets are closed on April 10 due to Mahavir Jayanti 2025, we will only know how the market responds once commodity trading resumes during the evening session on the Multi Commodity Exchange at 5 PM.

Currently, spot gold prices rose 0.2 per cent to $3,089.17 per ounce. MCX gold rates ended lower by ₹80, at 89,724 rupees per 10 grams on Wednesday. It hit the session’s high of ₹90,853. According to data, gold prices have risen by over $400 in 2025 and hit a record high of $3,167.57 on April 3, owing to strong buying by central banks.

This rally in gold prices came after Trump ramped up pressure on China. Trump said he would raise the tariff on Chinese imports to 125 per cent from the 104% level, escalating trade tensions between the world’s two biggest economies. However, Trump also announced a 90-day pause on higher tariffs on all nations.

Amid concerns that tariffs could fuel inflation and hamper economic growth, investors pulled out of equities and industrial commodities, seeking safety in gold. The yellow metal is traditionally viewed as a haven during periods of political and financial uncertainty.

Manav Modi, Senior Analyst, Commodity Research at Motilal Oswal Financial Services, data from the World Gold Council shows that physically backed gold exchange-traded funds registered the largest quarterly inflow in three years in January-March 2025. "Market participants will now keep an eye on the RBI policy meeting and FOMC meeting minutes. The focus this week will be on US CPI and PPI data," Modi said.

Gold has climbed over 18 per cent so far in 2025, as investors turn to it as a haven amid global uncertainty and inflation concerns. The surge has been fueled by a mix of factors, which include Trump's aggressive tariff moves, growing expectations of Fed rate cuts, rising tensions in the Middle East and Ukraine, strong buying by central banks, and a steady flow of money into gold-backed ETFs.

Read More :

Google Cloud Next 2025 day 1: Gemini on-premise, AI agent kit