Gold Price Delhi: Gold sets a record from New Delhi to New York, crosses Rs 88,300

Gold Price Delhi: On the occasion of Holi, gold prices witnessed a significant surge, reaching record levels in both New York and India's futures markets. For the first time, gold crossed the $3,000 per ounce mark in the New York COMEX futures market, while in India's Multi Commodity Exchange (MCX), gold prices soared past ₹88,300 per 10 grams.

Reasons Behind the Gold Price Surge

Experts believe that several global factors have contributed to this price increase:

✅ Geopolitical Tension: Rising global tensions and uncertainty have driven investors towards gold as a safe-haven asset.
✅ U.S. Tariff War: U.S. President Donald Trump announced a 200% tariff on European wine, intensifying the ongoing tariff war.
✅ Inflation and Economic Instability: Inflation rates in both the U.S. and India have declined, affecting gold prices.

New Record for Gold on MCX

Gold prices hit a new record on India's Multi Commodity Exchange (MCX). As of 6:40 PM, gold was trading at ₹88,169 per 10 grams, marking a ₹394 increase.

• Opening Price: ₹87,781 per 10 grams
• Previous Close: ₹87,775 per 10 grams
• March Increase: 5% (₹4,091 per 10 grams)
• Annual Increase: 14% (₹10,854 per 10 grams)

Gold Crosses $3,000 for the First Time on New York COMEX

In the New York COMEX futures market, gold prices surpassed $3,000 per ounce for the first time.

• Lifetime High: $3,015 per ounce
• 7 PM Price: $3,010.10 per ounce (+$19)
• Spot Gold Price: $2,994.77 per ounce
• British Market Price: £2,313.95 per ounce
• European Market Price: €2,748.03 per ounce

Expert Opinions and Future Predictions

According to Anuj Gupta, Head of Commodity & Currency at HDFC Securities, the upward trend in gold prices may continue. He noted that global market uncertainties and U.S. tariff policies are sustaining demand for gold. Despite lower inflation in both India and the U.S., investors continue to favor gold.

🔹 Future Outlook:
📌 Rising geopolitical tensions may push gold prices even higher.
📌 Investors may continue to buy gold as a hedge against uncertainty.
📌 The impact of the U.S. tariff war could weaken the dollar, further increasing gold prices.

Conclusion

On this special occasion of Holi, gold has brought great news for investors by reaching record levels. With global uncertainties looming, keeping an eye on gold prices in the coming months will be crucial.