The president's comments come amid speculation over an idea that the US Treasury could revalue its gold stockpiles
Gold's rally appears to be driven by President Trump's remarks on upcoming tariffs for autos and pharmaceuticals
Elon Musk questions whether $425 billion-worth gold reserves are safe in Fort Knox, challenging the strict security measures and lack of transparency
Disappointing data out of the US viz retail sales, nonfarm payroll (considering the downward revision done by BLS) and NAHB housing Index are positive for the yellow metal
The price of 22-carat gold also climbed Rs 10, with ten grams of the yellow metal selling at Rs 79,710
Donald Trump's tariff threats spark huge gold rush from London to New York as prices surge 11% in the US
Allocate 10-15% to gold, but don't expect last year's gains: Experts
Geopolitical tensions and fears of trade wars due to anticipated US tariff announcements are the key drivers of gold prices
The metal was trading at $2,906, down nearly 0.40 per cent on the day, whereas the MCX April gold contract was changing hands at Rs 85,540, down nearly 0.32 per cent on the day
The recent uptick in gold prices in 2025 has been led by tariff threats by US president Donald Trump, which in turn have seen investors move away from equities to safer havens.
Finance Minister Nirmala Sitharaman on Monday said action will be taken in case there are violations of well laid down processes for auctioning of gold by banks and NBFCs when a borrower fails to pay the gold loan. During Question Hour in Lok Sabha, she said Non Banking Financial Companies (NBFCs) and Scheduled Commercial Banks (SCBs) are guided by similar rules. There are very well laid down and tight processes in place for auctioning of gold by NBFCs and banks in case a borrower fails to pay the gold loan. These processes are followed by NBFCs and banks, she told Lok Sabha. There is a process for giving enough number of notices to bank account holders to say their servicing is not up to the mark. In the eventuality of a borrower not coming back to pay, the bank or NBFC will be forced to go for an auction, the minister said. Sitharaman stressed that even while going for an auction, there are very well laid out procedures and tight processes. "... if these processes are violated,
The price of 22-carat gold also rose Rs 10, with ten grams of the yellow metal selling at Rs 79,310
The price of 22-carat gold rose Rs 10, with ten grams of the yellow metal selling at Rs 79,060
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
Demand for gold could stand between 700 metric tonnes and 800 metric tonnes, compared to last year's 802.8 tonnes
China imposed tariffs on US imports, swiftly responding to new US duties, escalating the trade war between the world's top two economies even as Trump offered reprieves to Mexico and Canada
Gold, often regarded as a safe-haven investment during periods of economic or geopolitical instability, soared to a record peak of $2,817.23 on Friday
The price of ten grams of 24-carat gold in Mumbai is in line with prices in Kolkata, Chennai, and Hyderabad at Rs 84,340
Gold is considered a safe investment during geopolitical turmoil and thrives in a low interest rate environment
Gold rate today: India's budget to be presented on February 1 will be important for domestic gold prices as import duty on precious metals may be increased.