Gold rate today: Following the weak US economic data, MCX gold rate opened with an upside gap at ₹98,248 per 10 gm and touched an intraday high of ₹98,378 within a few minutes of the Opening Bell. The MCX gold rate had ended at ₹97,874 per 10 gm on Thursday. The sift US economic data outweighed initial optimism over U.S. President Donald Trump’s call with his Chinese counterpart Xi Jinping, while investors awaited US payroll data.
“Some of the initial enthusiasm for risk appetite following the Trump-Xi call has started to wear off, which has enabled gold to creep higher,” said Tim Waterer, chief market analyst at KCM Trade, adding, “As Trump’s optimistic take masked recent weak US economic data earlier.”
What’s fueling gold rates today?
On why gold price today is rising, Jateen Trivedi, VP Research Analyst – Commodity and Currency at LKP Securities, said, “Gold prices traded higher, supported by a weaker dollar and renewed safe-haven demand amid lingering tariff uncertainty and U.S. debt concerns. The broader sentiment in the bullion space remains positive, driven by geopolitical tensions and ongoing imbalance in global trade and financial dynamics.”
(With inputs from Reuters)
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