Gold Price Today / Gold broke all old records, today the price jumped to this level

Gold Price Today: The ongoing rise in gold prices is not stopping. Gold is making a new record with every new day. Gold prices reached a new high in the domestic futures market on Wednesday. MCX Gold 4 April contract crossed the Rs 84,000 level for the first time, supported by a fall in the dollar, fears of US-China trade war and buying in the domestic spot market.

MCX Gold crosses Rs 84,000 mark

MCX Gold for April 4 expiry reached a record high of Rs 84,154 per 10 grams, surpassing the previous highest level of Rs 83,721. International gold prices also reached a record high of $2,853.97 during Wednesday's session. Investors consider gold as a safe investment and new fears of US-China trade war have pushed gold prices higher. Gold prices are seeing further rise after China's decision to impose tariffs on US goods.

Main reasons for the rise in gold prices

1. US-China trade war

The growing trade tension between the US and China has created an atmosphere of instability among investors, due to which they are being attracted to gold as a safe investment option.

2. Global inflation concerns

The tariff policies of the US government are expected to increase global inflation. Investors are looking at gold as a safe asset to protect against inflation.

3. Demand for safe investment

Due to geopolitical tensions and stock market volatility, investors are increasingly turning to gold.

4. Central bank purchases

Many central banks around the world are storing gold, which is strengthening its prices.

5. Effect of dollar index

Recently the US dollar index crossed 109 points, which has affected other commodity markets including gold.

6. Global demand for gold

Major bullion banks are shifting gold reserves from Asian markets like Dubai and Hong Kong to the US to take advantage of higher futures premiums, further increasing prices.

What's next for gold prices?

Experts believe that gold prices may continue to fluctuate due to US economic data. However, due to global uncertainty and central bank purchases, gold prices may remain high in the long term. However, some correction may be seen in the short term.