Gold price today: MCX gold rate hits new high, tops ₹91,400 amid Trump tariff fears; where’s it headed next? | Stock Market News

Gold price today: Prices of the precious yellow metal Gold hit a new lifetime high on the Multi Commodity Exchange (MCX) on Tuesday, April 1, amid fears of US President Donald Trump’s upcoming tariffs on Wednesday, April 2.

Gold futures for the June 5, 2025, contract hit their lifetime high of ₹91,400 per 10 grams on the MCX index on April 1.

Just off the day’s high at 5:50 p.m. (IST), the gold futures for the June contract were trading at ₹91,120 per 10 grams, compared to ₹90,717 per 10 grams at the previous market close.

The all-time low level for the gold futures was at ₹77,078 per 10 grams, according to data collected from the MCX.

On the other hand, Silver futures on the MCX index were trading 0.24 per cent lower at ₹99,829 per kilo at 7:35 p.m. (IST), compared to the previous close at ₹1,00,065 per kilo, as per the market data.

Global Gold

According to the news agency Reuters report, global investors are taking refuge in US government bonds and gold as they are dumping the equity shares, especially for the tech and IT sector.

The international gold prices hit $3,175 per ounce as per the morning session on Tuesday, according to an AP report. It also mentioned that the gold prices have reached their high compared to their $2,700 levels earlier this year.

Gold Price Outlook

Experts estimate that the week ahead will remain ‘highly volatile’ for the precious yellow metal after the gold futures hit their all-time high on Tuesday. Colin Shah, managing director at Kama Jewelry, attributed Gold’s price hike to the uncertainty over the US tariff policy.

“Moving forward, spot gold prices are set to reach $3,250 by 2025, supported by key factors such as Trump’s trade tariffs, a weak US Dollar, escalating geopolitical tensions between Russia and Ukraine, and rising tensions in the Middle East,” said Shah.

Jateen Trivedi, VP of Research, Commodities and Currency at LKP Securities, estimates that investors should take a ‘cautious approach’ ahead of Donald Trump’s major US tariffs announcement on April 2.

“With gold already factoring in most of the tariff-related moves, any delay or lower-than-expected tariffs could trigger further profit booking,” said Trivedi.

“On MCX, gold registered a fresh all-time high of ₹91,400 in the June contract, marking an impressive 18% gain in 2025 so far. The week ahead remains highly volatile, with a trading range projected between ₹88,500 to ₹92,500. Additionally, key economic data, including Manufacturing and Services PMI, ADP unemployment, Nonfarm Payrolls, and US Unemployment data, will keep traders on edge, influencing gold’s movement further,” said Trivedi, analysing the outlook for gold in the upcoming sessions.

Prathamesh Mallya, DVP- Research, Non-Agri Commodities and Currencies at Angel One, said that the gold prices are anticipated to trade higher as investors remain anxious about the reciprocal tariffs fueling inflation in the economies around the world.

“Gold prices will likely trade higher as investors remain anxious that US President Donald Trump’s reciprocal tariffs on all nations might fuel inflationary pressures and obstruct economic growth,” said Mallya.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.