Gold Price Today: MCX Gold Reclaims ₹86,000 Peak Amid Trump’s Tariff Tensions; US Dollar in Focus

MCX Gold Above ₹86,000: Gold prices edged higher, staying above ₹86,000 per 10 gm in early trade.
Opening & Highs:
- Opened lower at ₹86,139 per 10 gm.
- Touched an intraday high of ₹86,271.
- Closed at ₹86,152 on Tuesday.
Global Gold Rates:
- Spot gold: Trading above $2,900 per ounce, currently at $2,918.
- COMEX gold: Priced at $2,924 per troy ounce.
What’s Driving Gold Prices?
- Trump’s Tariff Tensions: US tariff concerns fueling economic uncertainty.
- Weak US Dollar: A softer dollar supports higher gold prices.
- Safe-Haven Demand: ETF inflows indicate strong investor confidence in gold.
- US Inflation Impact: Cooling US CPI data raises Fed rate cut expectations, boosting gold’s appeal.
Expert Insights:
- Jateen Trivedi, VP Research at LKP Securities, expects gold to trade between ₹85,000 – ₹86,500 in the near term.