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Gold prices continue to rise on US tariff worries
The New Indian Express Kannur
|February 26, 2025
GOLD prices continue to rise on Tuesday after hitting record high on Monday amid global uncertainty.
THE rupee, after gaining in the past week, saw its worst single-day fall since February 5, plunging 51 paise or 0.6% to close at 87.21 on Tuesday, from 86.695 in the previous session.
The domestic currency spooked by the continuing talks about additional tariffs by the US president Donald Trump and the offshore derivatives market expiry, which led to a surge in dollar demand.
The rupee slipped 0.6% from Monday's level, its biggest single-day fall since February 5, losing 51 paise, which was also due to month-end dollar demand by importers, a forex trader with a public sector lender said, adding that the sustained sell-out of equities by foreign funds only added to the continuing pain of rupee which had been under pressure since last October, losing about 3.5%.
On February 10, the unit sniffed at 88 to a dollar, touching 87.95.
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