Gold price today: MCX gold rate hits new high as tariff uncertainty fuels safe-haven demand

Gold rate today: In the wake of Donald Trump’s tariff uncertainty fueling the safe-haven demand for the precious yellow metal, the MCX gold rate today climbed to a new peak for the seventh time in 2025. MCX gold rate opened with an upside gap and climbed to a new peak of ₹90,830 per 10 gm, bettering the previous peak of ₹90,797 per 10 gm.

In the international market, spot gold price oscillates around $3,145 per ounce, while the COMEX gold price is around $3,174 per troy ounce.

Gold rate today; Major triggers

Speaking on the triggers that may continue to fuel gold prices, Sugandha Sachdeva, Founder of SS WealthStreet, said, “A remarkable feat, the gold price has shattered previous barriers, establishing 17 new record highs in domestic markets this year, peaking at Rs. 89,796 per 10 gm mark. This surge in gold prices is not a random event but rather the result of a confluence of several variables. A volatile geopolitical landscape, a declining interest rate environment, economic anxieties exacerbated by the ongoing trade disputes initiated by US President Trump, and escalating inflation risks have all converged to create a bullish environment for gold.”

“The gold price rally is driven by strong safe-haven demand due to the fear of an escalating global trade war and its implications for economic development. In addition, strong central bank buying and robust ETF inflow have also contributed to gold’s impressive rally. The Trump administration’s scheduled implementation of reciprocal tariffs on April 2 is a crucial event for this week. It is the focus of attention among the market participants. Until then, we believe risk premiums build on gold prices,” said Anuj Gupta, Head — Commodity & Currency at HDFC Securities.

Central Banks diversifying their gold reserves

Central banks globally are actively diversifying their reserves, reducing reliance on the US dollar and aggressively accumulating gold. This trend is evidenced by central banks purchasing over 1,000 tonnes of gold annually for the past three years. Furthermore, after a prolonged period of outflows, gold ETFs are experiencing renewed investor interest, with global gold ETFs attracting net inflows of $9.4 billion in February alone – the largest monthly influx since March 2022. Adding a potentially significant new source of demand, China has permitted its 10 largest insurance companies to allocate up to 1% of their assets to gold, which could translate into an additional $27 billion entering the market.

Gold price outlook

Asked about the outlook of the precious yellow metal, Sugandha Sachdeva said, “From a technical perspective, gold’s momentum appears strong. Having decisively breached the crucial upside resistance level of $3,035 per ounce, the gold price now targets $3,200 per ounce from a medium-term perspective. However, recent rupee appreciation has introduced a slight headwind for domestic gold prices, which face resistance at ₹89,950 per 10 gm mark. A decisive break above this level could pave the way for prices to reach ₹91,200 per 10 gm in the near term and potentially ₹94,000 per 10 gm levels in the medium term.”

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.