Gold Rate Today / Gold prices rise sharply amid tariff war and fall in dollar, how high will prices go?

Gold prices continue to rise due to the fall in the US dollar and the tariff war. Gold closed at Rs 85,820 per 10 grams on MCX. The international market also showed strength. According to experts, new highs are possible with a breakout above 86,600.

Gold Rate Today: Gold prices continue to remain around record highs, keeping investors interested in this safe investment option. Gold prices have seen a jump this week due to global economic uncertainties, weakness in the US dollar and tariff disputes.

On Friday, the gold futures price on the Multi-Commodity Exchange (MCX) closed at ₹ 85,820 per 10 grams, up ₹ 1,618 from ₹ 84,202 last week. However, it is still ₹ 729 below the all-time high of ₹ 86,549.

Market volatility continues

Gold prices closed with a slight decline this week after touching a high of ₹ 86,356. Spot gold prices in the international market were recorded at $ 2,910 an ounce, up $ 52 from last week. At the same time, the gold futures price on COMEX closed at $ 2,914 an ounce.

Technical levels and potential trends

According to analysts, gold prices are facing significant resistance at ₹ 86,350 - ₹ 86,600 levels. If this level breaks, gold can go up to ₹ 87,500 per 10 grams. At the same time, if prices fail to cross this resistance, then support will be found at ₹ 84,300 and ₹ 83,500 levels.

Important factors that can affect prices

US inflation data: Inflation data to be released for February can have a direct impact on gold prices.

Producer Price Index (PPI) and Unemployment Claims: These economic indicators will indicate the strength or weakness of the dollar, which may affect the demand for gold.

Global trade tensions and tariff disputes: If the trade dispute between the US and other countries escalates, gold may become stronger as a safe investment.

Advice for investors

Experts believe that long term investment in gold can be beneficial in the current market conditions. However, investors should carefully plan their strategy keeping in mind the short term fluctuations.

Conclusion

Gold prices are still around record highs, and economic data and global developments will determine their direction in the near future. Investors should remain cautious and keep an eye on the market movement.