Thu Apr 17 07:49:39 UTC 2025: **Gold Prices Hit Record High in India**
NEW DELHI, April 17, 2025 – Gold prices in India soared to a new all-time high on Thursday, reaching ₹95,935 per 10 grams. This represents a ₹274 increase from Wednesday’s record. The surge is attributed to strong domestic demand and global market factors.
On the Multi Commodity Exchange of India (MCX), June gold futures contracts initially touched ₹95,935 before settling at ₹95,750. This follows Wednesday’s record high of ₹94,781.
Analysts point to several contributing factors, including uncertainty surrounding US trade policy with China, a weakening US dollar, and reduced demand for US Treasury securities. These factors have increased gold’s appeal as a safe haven asset.
Globally, gold futures also reached a record high of $3,371.89 per ounce in New York before slightly retreating. Rahul Kalantri, Vice President of commodities at Mehta Equities Ltd., linked the surge to heightened geopolitical tensions between the US and China, fueled by potential new tariffs on Chinese imports. The weakened US dollar, near a three-year low, further boosted gold’s attractiveness to international investors.
Adding to the positive outlook, Goldman Sachs raised its year-end gold price forecast to $3,700 per ounce, with potential for $4,000 per ounce by mid-2026.
First Piper 