(17 Apr 2025, 13:12)

MCX Gold almost tests Rs 96K mark as tariff situation remains frantic

COMEX Gold futures hit a fresh record high of $3371 per ounce as global tariff war escalated and equities saw volatile moves. The US stocks fell after US Federal Reserve chair Jerome Powell noted yesterday that no informed decisions could be made until the impact of Trump’s trade policies are known. Gold has been soaring after the break above $3000 per ounce and got a further boost this week amid tepid action in the US dollar index which held near three year low. Meanwhile, the US has announced a sweeping new tariff of up to 245% on Chinese imports, sharply escalating the trade conflict between the United States and China. The decision, detailed in a fact sheet released by the White House, comes in response to Beijing’s recent export restrictions and retaliatory tariffs. This is making the overall tariff scenario very frantic and Gold is turning out to be an obvious beneficiary following it. The metal currently trades at $3331 per ounce, down 0.44% on the day but is up around 6% for the month. On the MCX, Gold futures for June are trading at Rs 95332 per 10 grams, down 0.28% on the day after almost testing Rs 96K.

More News

(03-May-2025 14:16)
Weekly Crude Oil Review: WTI futures slump under $60 per barrel
(02-May-2025 16:42)
Economic Buzz: Eurozone inflation steady at 2.2% in April
(02-May-2025 14:29)
Commodities Buzz: US natural gas inventory up 107 BCF
(02-May-2025 13:55)
Gold rebounds in impressive manner

Tweets by CapitalMarket17

Commodity Mid Session News

MCX Gold almost tests Rs 96K mark as tariff situation remains frantic