Gold price today: Gold rates climbed in the domestic futures market Thursday morning, supported by mounting concerns over US President Donald Trump’s reciprocal tariffs, which are to be implemented from April 2. MCX Gold April 4 contracts were up 0.35 per cent at ₹87,949 per 10 grams around 9:20 AM.
Gold price today: Gold prices increased in the domestic futures market on Thursday, driven by concerns over President Trump’s tariffs starting April 2.
Raising concerns over the possibility of a deeper trade war, Trump, on Wednesday, announced he would levy a 25 per cent tariff on auto imports to bring more manufacturing jobs to the US.
Trump had earlier announced a fresh round of tariffs will come into effect on April 2, As the April 2 tariff deadline looms, investors fear that the wide-ranging tariffs could drive up inflation and high economic growth.
Heightened concerns over the economic impact of Trump’s tariffs and a major trade war have kept gold prices at higher levels this year. Domestic spot gold prices have surged 15 per cent so far in calendar year 2025.
Experts believe uncertainty over the impact of the ongoing trade war on global economic growth and expectations of US Fed rate cuts this year will keep gold prices at elevated levels this year, with intermittent profit bookings.
According to a Reuters report, “Goldman Sachs on Wednesday raised its end-2025 gold price forecast to $3,300 per ounce from $3,100, citing stronger-than-expected ETF inflows and sustained central bank demand.”
While some speculate that Trump’s tariffs may be more lenient, investors remain cautious about how the situation will unfold next week.
The focus is also on the Fed’s preferred inflation gauge- US personal consumption expenditures (PCE) data, due on Friday, which could influence expectations on the US interest rate trajectory.
Experts highlight key levels for MCX Gold, Silver and Gold price today
According to Manoj Kumar Jain of Prithvifinmart Commodity Research, gold has support at $3,034-3,022, and resistance is at $3,068-3,080 per troy ounce. Silver has support at $33.80-33.55, and resistance is at $34.50-34.80 per troy ounce in today’s session.
MCX Gold has support at ₹87,400-87,180 and resistance at ₹87,850-88,100, while silver has support at ₹98,800-98,220 and resistance at ₹1,00,200-1,01,000, Jain said.
“We suggest buying silver around ₹98,800 with a stop loss of ₹98,220 for the target of ₹1,00,200,” said Jain.
According to Rahul Kalantri, VP of commodities at Mehta Equities, gold has support at $3,000-2,982 while resistance at $3,044-3,060. Silver has support at $33.44-33.25 while resistance is at $33.86-34.10.
In INR, gold has support at ₹87,470-87,280, while resistance at ₹87,860-87,990. Silver has support at ₹98,550-97,850 while resistance at ₹1,00,320-1,00,950, said Kalantri.
As of March 27, 2025, gold prices in India have experienced an uptick, influenced by global economic uncertainties and recent tariff announcements by U.S. President Donald Trump. In the Multi Commodity Exchange (MCX), gold futures for April 4 delivery were trading at ₹87,949 per 10 grams around 9:20 AM
These levels are crucial for traders to monitor, as they may indicate potential price movements based on market reactions to ongoing global developments.
The recent surge in gold prices is attributed to heightened investor concern over the possibility of a deeper trade war, following President Trump’s announcement of a 25% tariff on auto imports starting April 2.
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Given the current geopolitical tensions and economic uncertainties, gold continues to serve as a safe-haven asset for investors. Market participants are advised to stay informed about policy changes and global economic indicators that could influence gold prices in the near term.