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Gold Prices Reach Historic Highs, Surpassing $3,300 Globally and ₹95,000 in India

The surge reflects heightened investor demand for safe-haven assets, driven by US-China trade tensions, a weaker dollar, and central bank activity.

A woman looks at a gold bangle inside a jewellery showroom at a market in Mumbai January 15, 2015. REUTERS/Shailesh Andrade/File Photo
One of the reasons why this came about was the US dollar weakening by 0.65%, as per data from Bloomberg's Dollar Index Spot.
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Overview

  • Gold prices hit an all-time high of $3,318 per ounce globally, with the closing price set to confirm if it sustains above $3,300.
  • In India, gold breached ₹95,000 per 10 grams on the MCX for the first time, reaching a record ₹95,435 during trading on April 16, 2025.
  • US President Donald Trump's investigation into critical mineral tariffs and escalating US-China trade tensions are fueling economic uncertainty.
  • A weakening US dollar and concerns over global economic stability have intensified safe-haven demand for gold, boosting prices significantly.
  • Central banks' consistent gold purchases and inflows into gold-backed ETFs continue to underpin gold's rising value.