Gold Prices Hit Record High Amid US-China Tensions and Weakened Dollar; 24K Gold Surpasses ₹85,000

Gold prices reached a record high, with 24K gold surpassing ₹85,000 per 10 grams, driven by a weakened dollar and escalating US-China trade tensions. Global gold prices also hit a new peak, surpassing $2,850 per ounce. Experts predict further price increases due to ongoing geopolitical uncertainty and inflation concerns.

CONTENTS:

• Gold Prices Reach Record High Amid US-China Trade Tensions and Weakened Dollar; MCX Gold Surpasses ₹84,000
• Gold Prices Hit Record High of ₹85,200 on February 3, 2025, Fueled by Inflation Fears, Trade War Tensions, and Weak Markets
• Gold Prices Surge in Bangalore on February 4, 2025, Amid Trade Tensions and Inflation Concerns
• Gold Prices Remain Strong Above ₹84,000 in Major Indian Cities on February 4, 2025, Following US Dollar Dip
• Gold Prices Increase Slightly on February 5, 2025, with 24K Gold at ₹85,210 in Major Indian Cities

Gold Prices Hit Record High Amid US-China Tensions and Weakened Dollar; 24K Gold Surpasses ₹85,000

Gold Prices Reach Record High Amid US-China Trade Tensions and Weakened Dollar; MCX Gold Surpasses ₹84,000

Gold Prices Hit Record High Amid US-China Tensions The price of gold has hit a new record high, with MCX Gold for April 4 contracts surpassing ₹84,000 for the first time, driven by a weakening dollar and heightened demand in the domestic market. International gold prices also reached a record high of $2,853.97. Investors are flocking to gold as a safe-haven asset due to renewed fears of a US-China trade war, which has been intensified by China’s retaliation against US tariffs. The decline in the US dollar has further supported gold’s price rally.

Experts suggest that the gold price increase is linked to geopolitical uncertainty, particularly the trade tensions between the US and China. Other factors contributing to gold’s rise include central bank buying and a weaker rupee. Despite the rally, short-term corrections are possible, and it’s advised to look for buying opportunities on dips.

For traders, the key resistance levels for gold are ₹84,050-84,400, while support is at ₹83,440-83,100. Analysts suggest that MCX Gold could reach ₹86,000 by the end of the year, while Comex Gold may approach $3,000, with immediate resistance between $2,880-$2,900.

In terms of strategy, experts recommend focusing on buying during price dips, with an eye on the geopolitical landscape and the US Federal Reserve’s interest rate moves.

Gold Prices Hit Record High of ₹85,200 on February 3, 2025, Fueled by Inflation Fears, Trade War Tensions, and Weak Markets

Gold Prices Hit Record High Amid US-China Tensions Gold prices surged to a record high on February 3, 2025, with the 24K gold price touching ₹85,200 per 10 grams, driven by several key global and domestic factors. Although the prices slightly eased after US President Donald Trump paused tariffs on Canada and Mexico, they quickly bounced back, breaching the ₹85,000 mark again.

Key factors behind the rally include:

1. Fear of Inflation: The potential increase in tariffs, particularly a 25% levy on Canadian and Mexican products, could raise costs in the US, leading to higher inflation. Concerns over inflation and the impact on global growth are driving investors to gold and other precious metals.
2. Trade War Fears: Tensions between the US and China have escalated with China imposing retaliatory tariffs on US goods, raising the possibility of a full-blown trade war. This uncertainty is driving demand for gold, which is considered a safe-haven asset in times of geopolitical instability.
3. Weak Equity Markets: Sluggish performance in domestic stock markets, coupled with foreign investor sell-offs, has led investors to seek safer investments like gold, as equity markets continue to show weakness.
4. US Rate Cuts Delayed: The Federal Reserve’s slower pace of rate cuts has increased uncertainty in the markets. Despite Trump’s calls for cuts, the Fed’s cautious stance on easing has fueled demand for safe-haven assets like gold.
5. Budget 2025 Announcements: In India, the reduction of the customs tariff on jewelry and parts from 25% to 20%, along with potential changes to the Sovereign Gold Bond scheme, has positively impacted gold prices. The tariff reduction is expected to boost domestic demand for gold, especially in the luxury segment.

These factors, combined with investor uncertainty, are expected to keep gold prices on an upward trajectory in the near future.

Gold Prices Surge in Bangalore on February 4, 2025, Amid Trade Tensions and Inflation Concerns

Gold Prices Hit Record High Amid US-China Tensions Gold prices in Bangalore experienced a significant surge on February 4, 2025, following a sharp drop the previous day. This rise is attributed to factors including the aftermath of the Union Budget 2025 and ongoing global trade tensions. The 22-carat gold price in Bangalore surged by ₹1,050, reaching ₹78,100 per 10 grams, while the 24-carat gold price increased by ₹1,150 to ₹85,200 per 10 grams. Similarly, 18-carat gold saw a rise of ₹860, priced at ₹63,900 per 10 grams.

For bulk buyers, the price of 100 grams of 24-carat gold in Bangalore now stands at ₹8,52,000, after an increase of ₹11,500, while the 22-carat version costs ₹7,81,000, up by ₹10,500.

Gold prices in major cities across India have mirrored this increase:

• Delhi: ₹85,350 (24K) and ₹78,250 (22K)
• Mumbai: ₹85,200 (24K) and ₹78,100 (22K)
• Chennai & Kolkata: ₹85,200 (24K) and ₹78,100 (22K)

Meanwhile, silver prices in Bangalore fell despite the surge in gold prices. The cost of silver per kilogram dropped by ₹1,000, now standing at ₹98,500, and 100 grams of silver is priced at ₹9,850, down by ₹100.

In the futures market, gold futures are currently trading lower by 0.20% at ₹83,120, while silver futures have dropped by 0.16% to ₹94,105. Globally, spot gold prices have surged, reaching a record high of USD 2,830.49 per ounce due to increased demand for the precious metal amid global economic concerns.

Experts suggest that the rising trade tensions and the imposition of tariffs by the US on Canada, Mexico, and China, along with concerns about inflation, are driving investors toward gold as a safe-haven asset. These factors, including geopolitical tensions and inflation fears, are expected to keep gold prices on an upward trajectory.

Gold Prices Remain Strong Above ₹84,000 in Major Indian Cities on February 4, 2025, Following US Dollar Dip

Gold Prices Hit Record High Amid US-China Tensions On February 4, 2025, gold prices remained strong, staying above ₹84,000 per 10 grams in major Indian cities following a dip in the US dollar and a recovery in global gold prices, which surpassed $2,800 per ounce. The easing of the US dollar by 0.3%, influenced by US President Donald Trump’s decision to delay tariffs on Canada and Mexico, sparked renewed buying interest in gold, driving prices up in the domestic market.

In Delhi, the 24K gold price dropped by ₹10 to ₹84,190 per 10 grams, while 22K gold stood at ₹77,190. Similarly, in Mumbai, the 24K gold price fell by ₹10 to ₹84,040, and 22K gold was priced at ₹77,040.

Gold prices across key cities:

• Delhi: 22K Gold ₹77,190, 24K Gold ₹84,190
• Mumbai: 22K Gold ₹77,040, 24K Gold ₹84,040
• Chennai: 22K Gold ₹77,040, 24K Gold ₹84,040
• Kolkata: 22K Gold ₹77,040, 24K Gold ₹84,040

Silver prices saw a slight dip of ₹100, reaching ₹99,400 per kilogram due to weaker domestic demand. Despite global silver prices remaining steady above $31 per ounce, local demand from industrial users remained sluggish, impacting silver prices. In major cities, silver prices were as follows:

• Delhi: ₹99,400 per kg
• Mumbai: ₹99,400 per kg
• Chennai: ₹1,06,900 per kg
• Kolkata: ₹99,400 per kg

Gold prices had seen a drop of over ₹400 per 10 grams on the previous day due to concerns about trade wars, but they stabilized following the easing of US dollar strength and market reactions to geopolitical developments.

Gold Prices Increase Slightly on February 5, 2025, with 24K Gold at ₹85,210 in Major Indian Cities

Gold Prices Hit Record High Amid US-China Tensions On February 5, 2025, gold prices saw a slight increase across major Indian cities. In Mumbai, the price of 24K gold rose to ₹85,210 per 10 grams, while 22K gold was priced at ₹78,110 per 10 grams. Known for its purity, 24K gold continues to be highly sought after, while 22K gold remains a popular choice for both investors and jewellery buyers due to its durability.

At the Multi Commodity Exchange (MCX), gold was up by 0.38%, trading at ₹84,115 per 10 grams. Meanwhile, silver prices experienced a small decline, down by 0.05% at ₹95,662 per kilogram in the morning session.

Gold prices across key cities on February 5, 2025:

• Delhi: 22K Gold ₹78,260, 24K Gold ₹85,210
• Mumbai: 22K Gold ₹78,110, 24K Gold ₹85,210
• Chennai: 22K Gold ₹78,110, 24K Gold ₹85,210
• Kolkata: 22K Gold ₹78,110, 24K Gold ₹85,210

Silver prices in India remained slightly lower at ₹98,500 per kilogram in the spot market.

Gold Prices Hit Record High Amid US-China Tensions Factors such as international market trends, import duties, taxes, and currency fluctuations influence gold prices in India. The precious metal is deeply embedded in Indian culture, especially for investments and ceremonial occasions, like weddings and festivals, which keep the demand strong.