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Gold crosses ₹95,000 mark amid tariff woes
The New Indian Express Mangaluru
|April 17, 2025
THE continuing weakness of the dollar coupled with the rising trade tension between the US and China -- with the former hiking import duties on shipments from the latter to 245% from 125% -- has led to the safe haven asset gold hitting a new high, going past the $3,300/ounce-mark in the global markets and scaling past the ₹95,000/10 gram mark (for 24 carat) in the domestic market on Wednesday.
The domestic price movement is due to the upcoming festival Akshaya Tritiya falling on April 30, traders said. On the MCX, gold (June futures) opened higher at ₹94,573 from the previous close of ₹93,451 and went onto jump as much as by ₹1,984, or 2.12%, to hit a record high of ₹95,435/10 grams.
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