Gold futures breach Rs 1 lakh-mark, surge Rs 2,048/10 g
Public Lokpal
April 22, 2025
Gold futures breach Rs 1 lakh-mark, surge Rs 2,048/10 g
New Delhi: Gold future prices sustained upward trend for the fourth straight session by surging Rs 2,048 to hit a fresh record high of Rs 1,00,000 per 10 grams as investors rushed to safe havens after US President Donald Trump indicated plans to overhaul Federal Reserve amid continuing global trade war jitters.
On the Multi Commodity Exchange (MCX), the August delivery contract of the yellow metal bounced by Rs 2,048 or 2.1 per cent to hit a fresh peak of Rs 1,00,000 per 10 grams in the mid-session trade.
Later, the precious metal trade at Rs 99,790 per 10 grams, up by Rs 1,838 or 1.88 per cent, with an open interest of 2,492 lots.
Additionally, the October contract bounced by Rs 2,016 or 2.04 per cent to hit a record high of Rs 1,00,500 per 10 grams on the MCX.
Meanwhile, the most-traded June contract climbed by Rs 2,079 or 2.14 per cent to touch a record high of Rs 99,358 per 10 grams.
Analysts said the surge in the precious metal was sparked by concerns surrounding US monetary policy, after President Donald Trump unveiled plans to overhaul the Federal Reserve.
In the international markets, gold futures jumped by USD 83.76 per ounce or 2.44 per cent to establish a record high of USD 3,509.06 per ounce.
Later, it pulled back from the record level to trade at USD 3,491.25 per ounce, up by USD 65.95 or 1.93 per cent.
On Monday, Trump reiterated his call for the Federal Reserve to cut interest rates, saying the American economy could slow down if the Fed does not cut interest rates immediately.
PTI