Gold bars are displayed in a gold jewelry store. File | Image source: Reuters
Gold prices continued to rise for the second consecutive session, hitting a new all-time high of Rs 95,935 per 10 grams, climbing Rs 274 on Thursday (17 April 2025), driven by demand for corporate attractions.
On the multi-commodity exchange of India Limited, precious metal contracts delivered in June hit a record 95,935 rupees per 10 grams in morning trading.
Later, it cuts the proceeds, i.e. Rs 89 or 0.09% to Rs 95,750 per 10 grams, with open interest of 22,403 lots.
On Wednesday (April 16), the all-time high in futures trading for gold was Rs 94,781.
Analysts say demand for the dollar weakens around the ongoing uncertainty of U.S. trade policy, and fiscal securities, as the preferred safe haven asset, strengthened the gold medal appeal.
On the global front, gold futures in New York rose to a new peak of $3,371.89 per ounce. Later, it returned from the record level to a $3,340.61 trade per ounce.
“Gold prices have soared…as geopolitical pressures between the United States and China have intensified. U.S. President Donald Trump’s move to investigate new tariffs on key Chinese imports shocked market sentiment.
“At the same time, the weakness of the one dollar makes gold more attractive to foreign investors,” said Rahul Kalantri, vice president of commodities at Mehta Equities Ltd.
Global investment firm Goldman Sachs, coupled with bullish gold outlook, raised its year-end gold forecast to $3,700 per ounce and believes the probability of $4,000 per ounce by mid-2026.
publishing – April 17, 2025 at 1:19 pm IST
