Today’s gold price: On Thursday,worries about President Trump’s tariffs beginning on April 2 drove up gold prices in the domestic futures market.
Today’s gold price: As worries about US President Donald Trump’s reciprocal tariffs, which are set to take effect on April 2,grew,gold prices rose in the domestic futures market Thursday morning.Around 9:20 AM,MCX Gold April 4 contracts were up 0.35 percent at ₹87,949 per 10 grams.
Concerned about the potential for a more intense trade war,Trump declared on Wednesday that he would impose a 25% tariff on auto imports in an effort to increase manufacturing jobs in the United States.
Trump has already declared that the tariffs would take effect on April 2. Investors worry that the broad tariffs could lead to rapid economic growth and increased inflation as the April 2 tariff deadline approaches.
Gold prices have been higher this year due to increased worries about the economic effects of Trump’s tariffs and a significant trade war. So far in 2025, domestic spot gold prices have increased by 15%.
Experts predict that gold prices will remain high this year, with sporadic profit bookings, because to uncertainties around the effect of the ongoing trade war on global economic development and anticipation of rate cuts by the US Fed.
According to a report by Reuters,”Goldman Sachs on Wednesday raised its end-2025 gold price forecast to $3,300 per ounce from $3,100,citing stronger-than-expected ETF inflows and sustained central bank demand.”
Investors are nonetheless wary of what will happen next week,despite some conjecturing that Trump’s tariffs would be less harsh.
Expectations on the US interest rate trajectory may be influenced by the Fed’s favorite inflation indicator,the US personal consumption expenditures (PCE) data, which is due on Friday.
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