Trump Tariffs Drive Gold Prices to Record High

On the back of U.S. President Donald Trump slapping India with 26% reciprocal tariffs, MCX gold prices touched a record high of 91,423 for 10 grams on April 3 against the previous close of ₹90,728.

According to the Indian Bullion Association (IBA), 24-carat gold was priced at ₹89,350/10 gm on April 3 at 9.40 am. Further, the price of 22-carat gold stood at ₹81,904/10 gm.

Rising uncertainty has spooked the stock markets, prompting investors to park their savings in the yellow metal and driving its price up with each passing day.

On the other hand, MCX silver prices opened lower at ₹99,658 per kg compared to the previous close of ₹99,753. According to the IBA website, silver was priced at ₹98,700/kg (Silver 999 Fine) at 9.40 am on April 3.

At 9:20 a.m., the Sensex was down 470 points, or 0.61 per cent, at 76,197, and the Nifty lost 105 points, or 0.45 per cent, at 23,227.

Take a look at the price of gold in different cities:

City                   Gold bullion                            MCX Gold    

Delhi                ₹89,030/10 gm                       ₹91,394/10 gm

Mumbai           ₹89,190/10 gm                        ₹91,394/10 gm

Hyderabad     ₹89,330/10 gm                        ₹91,394/10 gm

Chennai          ₹89,450/10 gm                        ₹91,394/10 gm

Kolkata           ₹89,070/10 gm                        ₹91,394/10 gm

Bengaluru      ₹89,260/10 gm                        ₹91,394/10 gm