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Gold Hits Record $3,350 as Trade Tensions and Dollar Weakness Drive Demand

Global gold prices surged to unprecedented levels, with Indian rates nearing ₹98,170 per 10 grams, fueled by escalating US-China trade conflicts, a weakening dollar, and central bank buying.

Gold prices surpassed the $3,300 mark for the first time on Wednesday, April 16, 2025.
Image
Gold
LONDON, ENGLAND - APRIL 16: A gold chain on countertop in a jeweller in Hatton Gardens on April 16, 2025 in the Hatton Garden area of London, England. This morning, the intraday spot price of gold surpassed $3,300 per ounce for the first time, as investors sought safety in the precious metal amid market turmoil sparked by US President Trump's tariffs and a burgeoning trade war with China. (Photo by Dan Kitwood/Getty Images)

Overview

  • Gold prices reached a historic high of $3,357.78 per ounce globally and ₹98,170 per 10 grams in India as of April 17, 2025.
  • The rally is driven by heightened US-China trade tensions, with new tariff investigations on critical minerals announced by President Trump.
  • The US dollar fell to a six-month low, making gold more attractive to international investors and boosting its value.
  • Federal Reserve Chair Jerome Powell's warnings about trade war risks and economic uncertainty further fueled safe-haven demand for gold.
  • Strong institutional support, including central bank purchases and record inflows into gold-backed ETFs, continues to underpin the surge.