Market focus remains on trade tensions. In his latest warning to Canada, US President Donald Trump said on Friday that reciprocal tariffs on dairy and lumber could be imminent
Gold Rate Today: Dip buying in Gold is the preferred trade as the yellow metal is expected to reach $3,000 in the coming weeks.
Gold rate today: Buy Gold on dips. Gold support is at $2900 (MCX April gold contract Rs 85,600)/ $2868 (Rs 84,700)
India's gold imports are set to tumble 85 per cent in February from year ago levels to their lowest in 20 years
Spot gold fell 1.2 per cent to $2,880.79 an ounce by 0910 GMT, its lowest since February 17. Prices hit a record peak of $2,956.15 on Monday, driven by safe-haven flows
Investors' focus was also on the US Personal Consumption Expenditures (PCE) report, the Federal Reserve's preferred inflation gauge, due on Friday
The precious metal's rally is expected to persist as safe-haven demand remains strong, with central banks worldwide continuing to accumulate gold to hedge against economic volatility
The price of 22-carat gold also climbed Rs 10, with ten grams of the yellow metal selling at Rs 80,710
Gold's rally appears to be driven by President Trump's remarks on upcoming tariffs for autos and pharmaceuticals
With uncertainty surrounding the global economy and the broader geopolitical landscape in the Trump 2.0 era, gold is set to remain a natural beneficiary of risk-off flows and central bank buying
The price of 22-carat gold also climbed Rs 10, with ten grams of the yellow metal selling at Rs 79,810
The price of 22-carat gold also dipped Rs 10, with ten grams of the yellow metal selling at Rs 79,290
The price of 22-carat gold also rose Rs 10, with ten grams of the yellow metal selling at Rs 79,310
Spot gold prices rose by 27 per cent last year, the most since 2010, as investors chose the metal to hedge against global risks and as the US Federal Reserve slashed interest rates
China imposed tariffs on US imports in a swift response to new US duties, escalating the trade war between the world's top two economies even as Trump offered reprieves to Mexico and Canada
But alarm about U.S. import tariffs planned by President Donald Trump has driven Comex futures prices substantially above spot prices in recent months, creating a lucrative arbitrage opportunity
Snapping a two-day losing run, gold of 99.5 per cent purity also surged Rs 910 to hit a fresh peak of Rs 83,350 per 10 grams on Wednesday
The price of 22-carat gold also fell Rs 10, with ten grams of the yellow metal selling at Rs 75,390
Spot gold added 0.4% to $2,755.19 per ounce as of 1200 GMT. The price hit its highest level in 12 weeks earlier in the session and is close to its record peak of $2,790.15 reached in October
Gold prices rallied Rs 500 to hit over a two-month high of Rs 81,300 per 10 grams in the national capital on Thursday amid fresh buying from jewellers and retailers and rupee depreciation, according to the All India Sarafa Association. The precious metal had closed at Rs 80,800 per 10 grams on Wednesday. The price of gold of 99.5 per cent purity climbed Rs 500 to Rs 80,900 per 10 grams. It settled at Rs 80,400 per 10 grams in the previous trading session. Silver also surged Rs 2,300 to Rs 94,000 per kg from the previous close of Rs 91,700 per kg on Wednesday. Meanwhile, gold contracts for February delivery rose Rs 297, or 0.38 per cent, to Rs 79,007 per 10 grams in the futures trade on the MCX on Thursday. "Gold surged higher trading above Rs 79,000 in MCX, supported by a rupee depreciation," Jateen Trivedi, VP Research Analyst of Commodity and Currency at LKP Securities, said. On Thursday, the rupee depreciated 16 paise to close at 86.56 (provisional) against the US dollar, drag