Gold Prices Hit Record High Amid Global Uncertainty

Gold prices have surged to an all-time high on April 16, driven by investor demand for safe-haven assets amid global economic volatility. The uncertainty surrounding tariffs and concerns over a potential recession have fueled the rally, with spot gold rising 0.4% to $3,221.32 per ounce. Bullion hit a record high of $3,245.42 on April 14, while US gold futures climbed 0.4% to $3,238.70.  

 

In India, gold prices have followed the global trend, reaching new peaks across major cities. The Multi Commodity Exchange (MCX) gold rate stood at ₹94,465 per 10 grams, marking a ₹1,014 increase from the previous day. Silver prices also saw an uptick, rising by ₹26 per kilogram to ₹94,800.  

 

City-wise gold rates for April 16:  

The surge in gold prices reflects heightened market uncertainty, with investors seeking stability amid fluctuating global conditions. Analysts expect continued volatility in the coming weeks, making gold a preferred asset for hedging against economic risks.  

 

Sources: MSN India, Indian Express, OneIndia.