GOLD GLITTERS ABOVE $3000; UP 14% YTD AS GLOBAL TENSIONS RISE

Published on Apr 08, 2025 15:02

Gold roared back above $3,000 per ounce on Tuesday, recovering from a near four-week low as global recession fears triggered fresh haven buying. On MCX, June bullion futures bounced back strongly, climbing past ₹88,000 after steep losses in the previous session. The comeback was fueled by renewed tensions in the US-China trade war, with President Trump threatening a 50% tariff hike unless Beijing rolls back its 34% counter-duties. The EU�s proposal of 25% counter-tariffs on US goods added more fuel to the fire, keeping investors on edge. Markets now await key cues this week � Fed meeting minutes on Wednesday, US CPI on Thursday, and PPI on Friday � for a clearer outlook on monetary policy. Despite slipping for three straight sessions earlier, gold remains resilient, gaining over 14% so far this year as safe-haven demand continues to dominate amid global uncertainty.