Gold costs hit a document excessive on Friday on elevated safe-haven demand amid uncertainty over US tariffs and commerce tensions. Hopes of financial coverage easing by the US Federal Reserve additionally boosted enchantment for the yellow steel.
Spot gold eased 0.1% to $2,983.78 an oz., after hitting a document excessive of $2,990.09 earlier within the session, inside touching distance of the important thing $3,000 milestone. Bullion is about for recording a second straight weekly rise, with a 2.5% acquire to this point. US gold futures rose 0.2% to $2,996.70.
Spot silver eased 0.2% to $33.72 an oz., platinum firmed 0.1% to $995.30, and palladium gained 0.7% to $964.32.
On the home entrance, the Indian inventory market and commodity markets are closed at present, March 14, on account of Holi 2025. Nonetheless, the commodity markets will open for the night session at 5 PM.
MCX gold costs ended flat at ₹87,775 per 10 grams on Thursday. MCX silver costs eased by ₹95, or 0.09%, to shut at ₹1,00,450 per kg.
Inflation Fears
US President Donald Trump’s multi-front commerce conflict has stoked inflation fears together with worries over recession on the earth’s largest financial system. This led gold to succeed in a number of document highs in 2025 because the yellow steel is seen as a hedge in opposition to political dangers and inflation.
The European Union responded to blanket US tariffs on metal and aluminium by imposing a 50% tax on American whiskey exports, prompting the president to threaten on Fact Social to cost a 200% tariff on imports of European wines and spirits, Reuters reported.
Fed Coverage Eyed
Market members now await the US Federal Reserve’s financial coverage assembly subsequent Wednesday. The US central financial institution is anticipated to maintain its benchmark in a single day rate of interest within the 4.25% – 4.50% vary. Non-yielding bullion thrives in a low rate of interest setting.
(With inputs from Reuters)
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