New Delhi: Gold futures on Friday hit an all-time high of Rs 93,736 per 10 grams in futures trade in tandem with global trends.
On the Multi Commodity Exchange, the yellow metal contracts for June delivery hit a record high of Rs 93,736 per 10 grams in early trade. Later, the contracts pared the gains to trade Rs 1,207 or 1.31 per cent higher at Rs 93,240 per 10 grams with an open interest of 19,722 lots.
Globally, gold futures increased nearly 2 per cent to hit a lifetime high of USD 3,240.20 per ounce in New York.
Jateen Trivedi, VP Research Analyst – Commodity and Currency, LKP Securities said that gold extended its record-setting rally on MCX, defying rupee strength as geopolitical tensions and tariff battles between the US and China escalated further.
The reciprocal tariff actions have injected fresh uncertainty into global trade flows, prompting increased hedge positions in safe-haven assets like gold, Trivedi added.
“Despite domestic currency appreciation, the robust global cues and heightened economic concerns have kept sentiment strongly bullish for bullion. With momentum in favor of buyers, gold now eyes the resistance zone of Rs 94,500 – Rs 95,000, while Rs 92,000 serves as an important support. Ongoing developments in the tariff dispute and investor positioning ahead of key global economic data will continue to drive price action,” he added.
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