MUMBAI, Feb 10 – Gold futures hit a fresh all-time high on Monday, reaching ₹85,680 per 10 grams on the Multi Commodity Exchange (MCX). This rise follows global trends, as investors turn to gold amid ongoing economic uncertainty.
In early trade, gold contracts for April delivery reached ₹85,680 per 10 grams, setting a new record. However, the contract later saw some slight corrections, trading ₹786 or 0.93% higher at ₹85,674 per 10 grams, with an open interest of 17,497 lots.
Trade Tensions Drive Demand for Safe-Haven Gold
The surge in gold prices comes as escalating trade tensions between the U.S. and China continue to raise concerns in global markets. Investors are flocking to gold as a safe-haven asset, seeking stability amidst the uncertainty.
“US President Donald Trump has intensified trade tensions by imposing new duties on China, triggering fears of a trade war, although Mexico and Canada received a one-month reprieve,” said Manav Modi, Analyst – Commodity Research at MOFSL.
Global Gold Prices Soar
Globally, gold futures also hit a record, climbing 1.13% to a lifetime high of $2,921.91 per ounce in New York. The upward trend reflects a broader flight to safety as investors react to growing geopolitical risks.
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