Gold Hits Record High As Trump Announces Tariffs — Check Prices In Mumbai, Bengaluru, Delhi, Chennai And More

The price of spot gold in the US rose to a record high of $3,149 per ounce, as nervous investors rush towards safe-haven options following US President Donald Trump's announcement of new tariffs.

The rise in the value of the precious metal comes amid the uncertainty posed by Trump's imposition of tariffs, which could lead to global economic headwinds. In addition to the reciprocal levies, the US will also be imposing 25% tariffs on all automobile and auto component imports from Thursday.

Gold price in India also rose to Rs 89,350 per 10 grams as of 7:39 a.m. on April 3, according to the India Bullion Association.

Rates in New Delhi were stable at Rs 89,030 per 10 grams, according to the association. The price in Mumbai was higher at Rs 89,190. In Kolkata, the rate rose to Rs 89,070. While in Bengaluru, the rate was at Rs 89,260. With the price at Rs 89,450, Chennai continued to see the highest rate in the country.

The futures prices for the yellow metal on Multi Commodity Exchange were volatile as the price stands at Rs 90,770 for the June 5 futures.

Gold prices had advanced to reach a new record high of Rs 91,950 in Delhi earlier this month, with continued buying by jewellers ahead of wedding season. The rise is also on the back of increased tensions in the Middle East and concerns about the US economic slowdown have kept the demand for safe-haven assets intact.

Global spot gold prices were at a record high at $3,152, according to the World Gold Council. Price of the yellow metal crossed $3,000 an ounce for the first time ever on March 14, driven higher by a central bank buying spree and economic fragility worldwide.

Silver price also rose and stood at Rs 1 lakh as of 7:40 a.m., according to the India Bullion Association. Strong industrial demand for silver, fueled by its importance in renewable energy technologies and electronics, has been driving the surge.