Gold Prices Hit Record High Amid US Dollar Retreat and Tariff Worries

Gold soars to ₹82,815 per 10 gm as market braces for inflationary impacts of global trade tariffs.

Gold prices in India reached a new peak today, with the Multi Commodity Exchange (MCX) futures for April 2025 hitting ₹82,815 per 10 grams. The rally came on the back of a weakening US dollar, which retreated from two-year highs, and market concerns over the inflationary impact of recently imposed tariffs by the US on key trading partners.

Also Read: Gold Prices Hit Record ₹83,800 Per 10 Grams: Key Drivers Behind the Surge

What Triggered the Surge?

According to Anuj Gupta, Head of Commodity & Currency at HDFC Securities, the precious metal witnessed a strong rally following profit-booking in the US dollar. “Initially, gold faced pressure due to a spike in the dollar index, but the greenback’s inability to sustain at higher levels fueled a wave of buying in gold,” Gupta explained. The US Dollar Index, which had approached the 110 level, dropped to around 109, boosting demand for the yellow metal.

Also Read: Sensex Plunges 700 Points as Trump Tariffs Spark Global Market Fears

Tariffs Add to Inflationary Concerns

Kaynat Chainwala, AVP of Commodity Research at Kotak Securities, highlighted the market’s focus on trade tariffs as a key factor driving volatility. “US President Donald Trump’s recent decision to impose a 25% tariff on imports from Canada and Mexico, along with a 10% levy on Chinese goods, has raised fears of inflationary pressures. This uncertainty is expected to keep the Federal Reserve on a higher interest rate trajectory,” she said.

Also Read: Rupee Hits All-Time Low at 87.29 Amid Trump Tariffs, Global Trade War Fears Intensify

Key Price Levels to Watch

Jateen Trivedi, VP of Research for Commodity and Currency at LKP Securities, emphasized that gold prices will likely remain in a narrow range. “We anticipate MCX gold rates to fluctuate between ₹80,500 and ₹83,000 per 10 grams, depending on further market developments and tariff news,” he noted.

In Delhi, gold hit an all-time high of ₹84,900 per 10 grams in the retail market, according to the All India Sarafa Association. The rally has seen domestic gold prices climb by 7% since January 1, 2025, when the metal traded at ₹79,390.

What’s Next for Gold?

Colin Shah, MD at Kama Jewelery, believes gold will remain in focus throughout 2025. “Gold prices are closely tracking the US dollar. With Trump’s aggressive trade stance likely to persist, we expect further upward pressure on gold,” he added.

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• Gold Prices Today
• US Dollar Movement
• Trump Tariffs
• Global Trade War
• MCX Gold Rate
• Inflation Impact
• Commodity Market Updates