Gold prices continued their record-breaking rally on Tuesday, with the Multi Commodity Exchange (MCX) gold rate reaching a new peak for the seventh time in 2025. The price of gold surged to ₹90,830 per 10 grams, surpassing its previous high of ₹90,797 per 10 grams, driven by growing uncertainty surrounding U.S. President Donald Trump’s trade policies.
In the global market, spot gold hovered around $3,145 per ounce, while COMEX gold prices stood at approximately $3,174 per troy ounce.
Key Drivers Behind the Gold Rally
Market analysts attribute the ongoing surge in gold prices to multiple factors, including geopolitical volatility, declining interest rates, and heightened economic uncertainty due to escalating trade tensions.
Sugandha Sachdeva, Founder of SS WealthStreet, highlighted the significance of gold’s upward trajectory. “Gold has shattered previous barriers, establishing 17 new record highs in domestic markets this year, peaking at ₹89,796 per 10 grams. This rally is the result of a combination of factors, including economic anxieties triggered by trade disputes initiated by U.S. President Trump, inflationary pressures, and a global flight to safe-haven assets,” she explained.
Gold Price Outlook
Looking ahead, Sachdeva noted that gold’s momentum remains strong from a technical perspective. “Having decisively breached the crucial resistance level of $3,035 per ounce, gold is now targeting $3,200 per ounce in the medium term. However, the recent appreciation of the rupee has created minor resistance for domestic gold prices, particularly around ₹89,950 per 10 grams. If prices break above this level, they could climb to ₹91,200 per 10 grams in the short term and potentially reach ₹94,000 per 10 grams in the medium term,” she added.
Disclaimer: The views and recommendations expressed are those of individual analysts or brokerage firms and do not reflect the opinions of Mint. Investors are advised to consult certified financial experts before making investment decisions.
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