Gold Prices Surge Amid US-China Trade Uncertainty

Gold prices increased significantly in the national capital, driven by fresh buying from stockists and a weakening dollar. This rise comes after a recent drop and amid US-China trade uncertainties. Silver prices also saw an uptick, reflecting continued demand for safe-haven assets amid geopolitical tensions.

Gold prices surged by Rs 200 to Rs 99,400 per 10 grams in the national capital as fresh buying by stockists and jewelers combined with a weak dollar fueled the market, reports the All India Sarafa Association. This follows a historic dip where the precious metal dropped Rs 2,400, settling at Rs 99,200 per 10 grams midweek.

Amid trade tensions, US Treasury Secretary Scott Bessent has indicated that the prolonged trade standoff between the US and China may persist, adding to market volatility. President Donald Trump has hinted at new tariffs for China within weeks, bolstering demand for gold as a safe-haven asset amid investor uncertainty.

Meanwhile, silver prices appreciated by Rs 700, reaching Rs 99,900 per kg, and futures trade saw gold contracts for June rise by Rs 1,046 to Rs 95,768 per 10 grams on the MCX. This renewed demand is attributed to ongoing trade discussions and geopolitical ambiguities, as noted by market experts.

(With inputs from agencies.)