Gold Price Surges to Record High Amid U.S. Tariffs

Gold prices have surged to record highs following U.S. President Donald Trump's announcement of a 10% baseline tariff on all imports, alongside higher duties on key trading partners, sparking fears of a global economic downturn. Gold futures at the MCX reached Rs 91,423 per 10 grams, driven by safe-haven buying amid heightened market volatility and concerns over inflation. This aggressive tariff policy has intensified investor demand for gold, which is seen as a hedge against economic instability, leading to a 19% increase in gold prices this year. Despite some profit booking in silver, which fell to Rs 98,361/kg, gold's performance remains strong as it continues to attract investment interest amid fears of a recession. Analysts suggest that gold could breach the $3,200 mark if current trends persist, with upcoming economic data potentially influencing future movements. Overall, the combination of tariffs, a weakening U.S. dollar, and declining bond yields are propelling gold prices to unprecedented levels.