Gold Surges Over $400 in 2025 Amid US-China Tensions
Gold prices surged on Thursday after US President Donald Trump raised tariffs on China. He did so despite temporarily easing duties on several other nations. Investors rushed to safe-haven assets, pushing the global gold rate up 3% in the previous session.
On April 10, Indian stock and commodity markets closed in observance of Mahavir Jayanti 2025. However, the Multi Commodity Exchange (MCX) will reopen at 5 PM for evening commodity trading.
Gold hits record high amid safe-haven demand; silver surges over 3%, MCX gold sees slight dip
Spot gold rose 0.2% to $3,089.17 per ounce. Bullion hit a record high of $3,167.57 on April 3. US gold futures climbed 0.8% to $3,104.90. In the previous session, futures rose 3%, while spot gold gained 2.6%.
On Wednesday, MCX gold closed at ₹89,724 per 10 grams, down ₹80 or 0.09%. It reached a session high of ₹90,853. Silver prices jumped ₹2,856, or 3.22%, to close at ₹91,600 per kg.
Reuters reported that strong safe-haven demand and central bank buying drove gold prices up over $400 in 2025. This led to the record high of $3,167.57 on April 3.
US-China Trade Tensions Drive Market Volatility
Trump escalated pressure on China by raising tariffs from 104% to 125% on Chinese imports. He also announced a 90-day moratorium on higher taxes for all countries. Still, the move heightened tensions between the world’s two largest economies.
Fearing inflation and slower growth, investors exited stocks and industrial commodities. They turned to gold for safety. Historically, gold has provided a refuge in times of uncertainty.
Markets now await key US inflation data. The Consumer Price Index (CPI) is expected later today. The Producer Price Index (PPI) will follow on Friday. These reports could offer clues about the Federal Reserve’s next move.
