Gold costs hit report excessive for third straight day on MCX; spot gold tops $3,000 on safe-haven demand

Gold value right now: Sustaining its upward run for the third straight day, gold costs touched one other peak on the Multi Commodity Trade (MCX) in right now’s buying and selling session, March 14. The April expiry contract opened greater at ₹87,781 per 10 grams and strengthened additional to hit a contemporary peak of ₹88,280, marking a 0.57% soar from the earlier closing value.

In the meantime, spot gold costs surpassed $3,000 per ounce for the primary time earlier right now, reaching a contemporary all-time excessive of $3,004. To date this yr, spot costs have already climbed 14.20% after ending the earlier calendar yr with a 27.24% acquire.

Indian inventory markets remained closed right now in observance of Holi. Nonetheless, commodity markets opened for the night session at 5 PM. 

Gold costs have been hitting report highs this yr, largely pushed by considerations over a possible international financial fallout stemming from Donald Trump’s commerce insurance policies, prompting traders to flee from dangerous property towards safer havens, fueling a sustained rally in gold.

Moreover, gold accumulation by main central banks, notably China, which prolonged its purchases for a fourth consecutive month in February, is supporting the steel’s rally. Moreover, costs are drawing further help from greenback weak point beneath 103.75 amid softer-than-expected CPI knowledge, which strengthened expectations of rate of interest cuts in each the U.S. and India.

Furthermore, fears are additionally mounting that the Trump administration may impose duties on gold imports, prompting a number of the largest banks within the U.S. to move gold bars from London to New York Metropolis on industrial flights, as per the latest reviews. 

Amid the sustained rally, the yellow steel can be surpassing analysts’ goal value sooner than anticipated, prompting them to revise their projections greater. International brokerage agency Macquarie lately up to date its 2025 gold value forecast and now expects the dear steel to succeed in $3,500 an oz. by the third quarter.

It said that gold stays a key safe-haven asset, because the financial institution’s economists anticipate international financial development to say no to 0.3% by the third quarter of this yr.

Danger-off sentiment grows

Within the newest salvo, Trump threatened to impose 200 per cent tariffs on wine, champagne, and different alcoholic drinks from European Union nations in retaliation in opposition to the bloc’s deliberate levies on American-made whiskey and different merchandise.

The EU’s tariffs have been introduced in retaliation to Trump’s levies on metal and aluminum. The president mentioned he wouldn’t row again on the metals duties, nor on plans for sweeping reciprocal tariffs on nations worldwide which are resulting from kick in as quickly as April 2.

Analysts have warned that markets are being wracked by uncertainty amid fears the rising commerce conflict between main international economies may reignite inflation. Wall Road has been hammered, with the S&P 500 slipping right into a correction Thursday, having fallen greater than 10 per cent from its latest peak—a report excessive touched simply final month.

Analysts anticipate MCX gold value to the touch ₹92,000

Ajay Kedia, Director of Kedia Advisory, expects gold costs on MCX to succeed in ₹92,000 in 2025, pushed by report central financial institution purchases, a weakening U.S. greenback, and Federal Reserve fee cuts. A world commerce conflict and inflation considerations are additionally prone to maintain bullish momentum.

Nonetheless, he famous that excessive volatility is anticipated, as a decision of commerce tensions, stronger financial knowledge, or a Fed pause on fee cuts may set off sharp corrections.

“Gold’s historic tendency to right when all elements flip bullish means that surprising market shifts may trigger value swings of ₹6,000- ₹7,000 per 10 grams earlier than reaching new highs,” he additional added.

Disclaimer: The views and proposals given on this article are these of particular person analysts. These don’t symbolize the views of Mint. We advise traders to test with licensed consultants earlier than taking any funding selections.