Gold price today: MCX Gold hit a record high in early trade on Thursday, April 17, supported by mounting concerns over the ongoing trade war and its impact on global economic growth. Weakness in the US dollar and healthy spot demand are also among the key factors that support gold prices. MCX Gold June 5 contracts jumped to a fresh all-time high of ₹95,893 per 10 grams during the session. However, it quickly pared gains and traded volatile. Around 9:10 AM, the contract was flat at ₹95,670 per 10 grams.
International gold prices also hit a record high due to the heightened demand for safe-haven assets.
In the previous session, MCX Gold June 5 contracts settled with a solid gain of 2.42 per cent at ₹95710 per 10 grams after hitting a lifetime high of ₹95,740 during the session.
Global uncertainty emanating from US President Donald Trump’s tariff policies is the key driver of gold prices. Domestic spot gold prices have surged 24 per cent this year.
More to come.