New Delhi: As high-stakes discussions were held between Prime Minister Narendra Modi and US President Donald Trump at the White House on early Friday, the gold prices jumped today. Gold futures contracts for April 2025 on the Multi Commodity Exchange (MCX) opened at Rs 86,020 per 10 grams and touched Rs 86,144 within minutes.
Gold prices on February 14, 2025 increased Rs 371 to Rs 86,180 per 10 grams in futures trade. The yellow metal rates gained as speculators created positions on a firm spot demand. On the Multi Commodity Exchange, gold contracts for March delivery traded higher by Rs 371 or 0.43 per cent at Rs 86,180 per 10 grams in a business turnover of 16,714 lots.
Analysts are of the view that the fresh positions built up by participants led to an increase in gold prices. At the international level, gold futures went up 0.04 per cent to USD 2,929.37 per ounce in New York.
Global Uncertainty Drives Safe-Haven Demand for Gold
The gold prices have gone north due to global economic uncertainty and the tariff policy of US President Donald Trump. Also, the decline in US dollar and bond yields is also a reason behind the rally.
With stock markets falling and global uncertainty, people are viewing gold as a safe investment. As per the latest data release by the Reserve Bank of India (RBI), gold reserves increased by USD 1.242 billion to USD 70.893 billion during the week ended January 31, 2025.
Speaking to TV9, Anuj Gupta, Head of Commodity and Currency, HDFC Securities, said that not just India or America, but several other countries are keeping a close watch on the outcome of the Modi-Trump meeting. Due to Trump’s protectionist policy, gold has emerged as a safe investment. This is because people are moving their money into gold and American bonds.
Gold prices experienced a significant surge on February 14th, 2025, reaching Rs 86,180 per 10 grams on the MCX, fueled by speculation surrounding the Modi-Trump meeting. The global economic uncertainty, Trump’s tariff policies, a weakening US dollar, and declining bond yields contributed to the rally. Biz News Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
