Gold prices surged sharply on Thursday, driven by heightened global economic uncertainty and escalating trade tensions between the United States and China. Investors are increasingly turning to gold as a safe-haven asset, resulting in a significant spike in prices both domestically and internationally.
In India, the price of 10 grams of pure gold rose by over ₹6,000 in a single day, crossing the ₹96,000 mark. In Delhi, gold prices increased by ₹6,250 to reach ₹96,450 per 10 grams. In Hyderabad’s bullion market, gold was trading at ₹96,430 by the evening session.
On the international front, gold was priced at $3,223 per ounce. The yellow metal had breached the $3,200 level ten days ago amid fears of a global trade war, briefly corrected due to profit booking, and has since resumed its upward trajectory.
The surge in prices follows recent developments in the trade standoff between the US and China. While US President Donald Trump has temporarily suspended tariffs on several countries, tariffs on Chinese imports remain in place. In retaliation, China has imposed a 125% tariff on American goods. The ongoing tariff conflict is contributing to market volatility, boosting demand for gold as a stable investment option.