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Gold smashes record at $3124; nears Rs 90k mark on MCX
28-Mar-25   14:09 Hrs IST

Gold futures skyrocketed to a fresh record high of $3124.4 per ounce today, fueled by mounting trade tensions and investor anxiety ahead of additional US tariffs next week. Gold had a blockbuster first quarter, with the precious metal about to finish the Q1 2025 with whopping gains of more than 18%. MCX June delivery futures also touched an all-time high of ₹89937 per 10 grams, reflecting the global rush for safe-haven assets. Bullion is poised for its fourth straight weekly gain and the biggest monthly surge since March 2024, driven by strong central bank buying and soaring ETF demand. President Donald Trump's 25 percent tariffs on foreign-made cars and auto parts sparked retaliation threats from the European Union and Canada, raising fears of a wider trade war and global economic turmoil. As markets brace for volatility, all eyes are on the upcoming US PCE data, which could offer fresh clues on the Federal Reserve's next policy move after reaffirming two rate cuts by year-end.

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