03-Apr-2025      14:13

Gold's rally cools as markets digest Trump's sweeping trade tariffs

Gold briefly surged to a record $3196.6 per ounce before easing below $3140 as markets reacted to Trump's aggressive tariffs. His 10% baseline levy and steep hikes on China (34%), the EU (20%), and Japan (24%) fueled uncertainty, while a 25% tariff on foreign-made cars added to the tension. Despite the pullback, gold remained supported by central bank buying, ETF demand, and Fed rate cut bets. Investors now await Friday's U.S. non-farm payrolls report for monetary policy cues. Meanwhile, MCX gold defied the international dip, rising ₹148 to ₹90876 per 10 grams.

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