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Gold Set To Cross ₹1L Mark On Weak Dollar
The Morning Standard
|April 22, 2025
Surge in yellow metal is on the back of weakening dollar and global uncertainties over Trump's imposition of tariffs
WITH the international gold prices crossing $3,400/ounce-mark on Monday, the domestic prices are likely to cross the psychological mark of ₹1,00,000/10 grams on Tuesday as dollar continued to face headwinds.
The greenback was at a three-year low on Monday against the key other currencies amid escalation in tariff war. In Delhi, the yellow metal rose to ₹99,800 (24 carat) on Monday.
At 4:15 pm, Monday, the safe haven metal was trading at $3,415/ounce (an ounce is 28.35 grams) on the Chicago Mercantile Exchange, which is 2.7% higher than the previous close. This means that the metal will open for trade on Tuesday well-above the psychological mark of ₹1,00,000/10 grams or to be precise at ₹1,03,293.
This story is from the April 22, 2025 edition of The Morning Standard.
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