Gold price today: Yellow metal jumps over ₹700 on MCX as US Dollar weakens amid tariff woes

Gold Price Today: Gold futures on the Multi Commodity Exchange of India (MCX) gained on a weaker US Dollar due to the Donald Trump tariff woes looming over the Western nation.

Gold futures were trading ₹718 or 0.84 per cent higher at ₹86,137 per 10 grams for the April 4, 2025 contract on Tuesday, March 11 at 11:09 p.m. (IST), compared to ₹85,419 on the previous commodity market session. 

According to the Bloomberg Dollar Spot Index, the US Dollar was at 103.37, down 0.51 per cent as of 12:36 p.m. (EDT). 

Outlook on Gold Prices

Jateen Trivedi, VP Research Analyst of Commodity and Currency at LKP Securities, said that the gold prices gained on the MCX and the COMEX index due to a potential US economic uncertainty looming due to the tariff concerns.

“Gold traded higher with a ₹450 gain at ₹85,900 in MCX and a $14 rise to $2,911 in COMEX as dollar index weakness and escalating tariff concerns in the US signaled economic uncertainty,” said the commodity market expert.

The commodity expert also highlighted that the precious yellow metal futures will trade in the range of ₹85,000 to ₹86,500 on the MCX index.

“Safe-haven buying remained strong, with ETF inflows supporting the bullish sentiment. Additionally, cooling US CPI data raised expectations of a potential rate cut from the Fed, further boosting gold’s appeal. The expected trading range for gold is ₹85,000- ₹86,500,” said Trivedi.

Gold spot prices in India

According to the news agency PTI's report citing All India Sarafa Association, the spot price of the precious yellow metal ended its three-day losing streak and rebounded to ₹88,790 per 10 grams in Delhi on Tuesday.

The gold prices for the yellow metal with a purity of 99.9 per cent gained ₹40 to ₹88,790 per 10 grams, compared to ₹ ₹88,750 per 10 grams at the previous day.

Spot gold, with a purity of 99.5 per cent, also gained ₹40 to reach ₹88,390 per 10 grams on March 11.

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.