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As on : 08-Apr-2025

Other Markets - Bullion Markets
08-Apr-2025 15:02

Gold glitters above $3000; up 14% ytd as global tensions rise

Gold roared back above $3,000 per ounce on Tuesday, recovering from a near four-week low as global recession fears triggered fresh haven buying. On MCX, June bullion futures bounced back strongly, climbing past ₹88,000 after steep losses in the previous session. The comeback was fueled by renewed tensions in the US-China trade war, with President Trump threatening a 50% tariff hike unless Beijing rolls back its 34% counter-duties. The EU's proposal of 25% counter-tariffs on US goods added more fuel to the fire, keeping investors on edge. Markets now await key cues this week ' Fed meeting minutes on Wednesday, US CPI on Thursday, and PPI on Friday ' for a clearer outlook on monetary policy. Despite slipping for three straight sessions earlier, gold remains resilient, gaining over 14% so far this year as safe-haven demand continues to dominate amid global uncertainty.

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