Gold Prices Hit New High of ₹95,935/10g Amid Global Uncertainty and Weak Dollar: New Delhi, April 17: Gold prices continued their bullish momentum for the second consecutive day, reaching a new all-time high of ₹95,935 per 10 grams on Thursday. The surge, driven by strong spot demand and global uncertainties, saw a rise of ₹274 in the morning trade.
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On the Multi Commodity Exchange (MCX), gold futures for June delivery touched the record mark before slightly easing to trade at ₹95,750 per 10 grams — still up by ₹89 or 0.09%, with an open interest of 22,403 lots.
Just a day earlier, on April 16, gold had set a previous record at ₹94,781 per 10 grams in the futures market.
Market analysts attribute this sharp rally to continued concerns over U.S. trade policy, decreasing interest in the U.S. dollar, and weakening demand for Treasury securities — all of which have boosted gold’s safe-haven appeal.
Globally, gold futures in New York soared to a new high of $3,371.89 per ounce, later retreating slightly to $3,340.61 per ounce. The escalation in geopolitical tensions between the United States and China — following President Donald Trump’s investigation into new tariffs on key Chinese imports — has further rattled investor confidence and added fuel to the gold rally.
“The U.S. dollar hovering near a three-year low is making gold more attractive for foreign investors,” noted Rahul Kalantri, Vice President of Commodities at Mehta Equities Ltd.
Adding to the bullish outlook, global investment giant Goldman Sachs has revised its year-end gold price forecast to $3,700 per ounce and projects a potential rise to $4,000 per ounce by mid-2026.soure daily excelsior.