Jobaaj Stories
Today, gold prices reached a new high, climbing to ₹99,178 per 10 grams in morning trading. This surge comes as tensions between US President Donald Trump and Federal Reserve Chair Jerome Powell escalate over interest rate decisions. The disagreement has led to a drop in the US dollar, adding further fuel to gold's rise.
The June 2025 expiry gold futures contract on MCX saw an immediate jump, opening at ₹98,753 per 10 gm and quickly reaching ₹99,178 within minutes after the opening bell.
On the international stage, the price of spot gold fluctuated around $3,482 per ounce, while COMEX gold stood at $3,495 per troy ounce. The US Dollar Index fell by 0.19% to settle at 97.86.
Expert Opinions:
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Anuj Gupta from HDFC Securities attributes the surge to Trump's criticism of Jerome Powell, which has contributed to the US dollar reaching a three-year low. This, combined with global economic concerns, has increased demand for gold as a safe-haven asset.
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Nigel Green, CEO of deVere Group, highlights that the ongoing feud between Trump and Powell has created a two-fold risk: either Powell holds his stance, leading to restrictive policies, or Trump intervenes politically, threatening the independence of the Federal Reserve. These uncertainties are pushing investors toward gold.
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Jateen Trivedi, VP of Research at LKP Securities, notes that the escalation of US-China trade tensions, concerns about the US economy, and the looming debt crisis are all contributing factors to gold’s rise. He also points to strong buying from China, central banks, and institutional investors as further catalysts.
As gold prices continue their rally, investors are closely monitoring the political and economic dynamics at play, which could shape future market movements.
Disclaimer: The views and recommendations shared here are based on individual analysts' opinions and do not reflect the stance of Jobaaj or Mint. We recommend consulting certified financial experts before making any investment decisions.
