Overview

• Gold prices hit a record $3,384 per ounce internationally and Rs 96,747 per 10 grams on India's MCX, reflecting heightened demand for safe-haven assets.
• The weakening US dollar and escalating US-China trade tensions are key factors fueling the surge in gold prices.
• Central banks have continued to bolster their reserves, purchasing over 1,000 tonnes annually for three consecutive years.
• President Trump's Truth Social comments on gold and speculation around the Federal Reserve's independence have added to market volatility.
• While global demand remains robust, high prices have tempered traditional jewellery consumption in India, with analysts noting subdued retail activity.