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As on : 09-Apr-2025

Other Markets - Bullion Markets
09-Apr-2025 14:09

Safe-haven rush lifts gold, markets brace for Fed signal

Gold soared nearly 3% to around $3,070 per ounce on Wednesday, fueled by safe-haven demand as Trump's 104% tariffs on China sparked fears of a global recession. The gains added further after the World Gold Council reported a massive Q1 inflow of 226.5 metric tons into gold ETFs worth $21.1 billion ' the highest in three years. On MCX, June gold futures surged by nearly ₹2000 to ₹89,441 per 10 grams, reflecting the global rally. China hit back, vowing to 'fight to the end' against what it called U.S. blackmail, while Trump hinted at new tariffs on pharmaceutical imports. All eyes are now on the U.S. Fed's March meeting minutes, due later today, for clues on potential rate cuts. With fear gripping markets, gold is once again shining as the go-to safety net.

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