Today’s gold price: On April 16,gold prices hit a fresh peak in the domestic futures market. Uncertainty over US trade policy and a declining currency are to blame for the surge of more than ₹1,000.
Today’s gold price: The domestic futures market saw gold prices soar to a new all-time high of ₹94,840 per 10 kilos on Wednesday morning. A weaker dollar and ongoing uncertainty around US President Donald Trump’s tariff intentions helped MCX Gold rates soar to a record high in early trade on Wednesday,April 16,jumping over ₹1,000,or more than 1%,per 10 grams.
Around 10:55 AM,the price of MCX gold increased by 1.50 percent to 94,840 per 10 grams.
A declining dollar and worries about how the trade war will affect global economic development caused gold prices to soar to all-time highs on Wednesday.
Comex Gold reached $3,294.60 per troy ounce, a roughly 2% increase.
Gold prices rise as a result of investors’ increased demand for safe havens due to economic instability.
Over the course of the session,the dollar index fell by almost 0.5 percent. Because gold is valued in US dollars,its demand is increased as the US dollar depreciates and makes the yellow metal more affordable in other currencies.
Gold prices are also being supported by growing expectations of rate cuts following notable drops in inflation in the US and India.
In March 2025, retail inflation in India decreased to its lowest level since August 2019.
According to data from the Ministry of Statistics and Programme Implementation (MoSPI), retail inflation in March increased by 3.34 percent yearly based on the Consumer Price Index (CPI). This is less than the 3.61% recorded in February and the 4.85% recorded during the same period last year.
The consumer price index (CPI) in the United States decreased to 2.4% in March compared to the same month last year.
The US retail sales data that is scheduled for later today will provide new information about the greatest economy in the world and influence investors’ expectations on the monetary policy of the US Federal Reserve.
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