SAFE-HAVEN RUSH LIFTS GOLD, MARKETS BRACE FOR FED SIGNAL

Published on Apr 09, 2025 14:09

Gold soared nearly 3% to around $3,070 per ounce on Wednesday, fueled by safe-haven demand as Trump�s 104% tariffs on China sparked fears of a global recession. The gains added further after the World Gold Council reported a massive Q1 inflow of 226.5 metric tons into gold ETFs worth $21.1 billion � the highest in three years. On MCX, June gold futures surged by nearly ₹2000 to ₹89,441 per 10 grams, reflecting the global rally. China hit back, vowing to �fight to the end� against what it called U.S. blackmail, while Trump hinted at new tariffs on pharmaceutical imports. All eyes are now on the U.S. Fed�s March meeting minutes, due later today, for clues on potential rate cuts. With fear gripping markets, gold is once again shining as the go-to safety net.