Gold prices in the domestic futures market experienced an uptick on Tuesday morning, reflecting growing apprehension regarding U.S. President Donald Trump’s tariff policies and fears surrounding a potential recession in the largest economy globally. As of 9:10 AM, MCX Gold June 5 contracts rose by 0.16%, reaching ₹93,397 per 10 grams. This surge follows a notable 5% increase in gold rates within the domestic spot market throughout April.
Market Reactions and Trends
On Monday, the yellow metal encountered some profit-taking, leading the MCX Gold June futures contract to decline by half a percent, ultimately closing at ₹93,252 per 10 grams. However, the scenario shifted dramatically on Tuesday morning. Investors returned to gold, driven by ongoing concerns about the ramifications of the trade war on global economic stability.
- Current MCX Gold June Price: ₹93,397 per 10 grams
- Monday’s Closing Price: ₹93,252 per 10 grams
- April’s Spot Market Increase: 5%
Investor Sentiment
The recent fluctuations in gold prices highlight the asset’s role as a safe haven for investors amid economic uncertainty. As worries about the impact of trade tensions continue to loom, many are turning to gold as a protective measure for their portfolios.
In this environment of unpredictability, gold’s appeal remains strong, and market participants are keenly watching for further developments. As discussions around tariffs and economic forecasts evolve, the precious metal is likely to remain a focal point for investors seeking stability.
Stay tuned for more updates on gold market trends and economic indicators.
