Global Gold Prices Surge Amid Trade Tensions

Gold prices have reached record highs globally, driven by the safe-haven demand amidst geopolitical tensions and economic uncertainties sparked by U.S. President Donald Trump's tariffs on major trading partners like Canada, China, and Mexico. In India, the price soared to around Rs 85,000-87,300 per 10 grams, reflecting both global market trends and the depreciation of the rupee. Reports from various markets, including Karachi and Ahmedabad, confirm similar upward trends in gold prices due to international trade tensions and inflation fears. Analysts suggest that the tariffs could lead to stagflation, thereby increasing gold's appeal as a hedge against inflation. While some investors continue to buy gold, jewelers face challenges due to reduced consumer buying power. The ongoing trade war and potential for retaliatory tariffs are expected to maintain volatility in gold prices, with expectations of further increases if tensions persist.