Gold Price Today: MCX Gold Rises To Record High Of Rs 95,935 Per 10 Grams
After the high in the morning trade, the futures prices pared the gains to trade at Rs 95,750 per 10 grams with an open interest of 22,403 lots.
Gold prices continued their climb for the second straight day, hitting a new all-time high of Rs 95,935 per 10 grams, climbing by Rs 274 on Thursday, driven by firm spot demand.
On the Multi Commodity Exchange, the yellow metal contracts for June delivery hit the fresh peak. After the high in the morning trade, the futures prices pared the gains to trade at Rs 95,750 per 10 grams with an open interest of 22,403 lots.
On Wednesday, gold had touched an all-time high of Rs 94,781 per 10 grams in futures trade. Analysts attribute the persistent uncertainty surrounding the US trade policy and waning demand for the dollar paired with Treasury securities have heightened gold's appeal as the safe-haven asset.
On the global front, gold futures rose to hit a fresh peak of $3,371.89 per ounce in New York. Later, it pulled back from the record level to trade at $3,340.61 per ounce.
"US President Donald Trump's move to investigate new tariffs on critical Chinese imports has shaken market sentiment. Simultaneously, a weakening US dollar — near a three-year low — made gold more appealing to foreign investors," said Rahul Kalantri, vice president of commodities at Mehta Equities Ltd, said.
Adding to the bullish outlook for gold, global investment firm Goldman Sachs raised its year-end gold forecast to $3,700 per ounce and sees potential for $4,000 per ounce by mid-2026.
(With inputs from PTI)
