Since Donald Trump assumed office, global economies have experienced major shifts. His first day in office saw no decision regarding the implementation of broad trade tariffs on China and other nations. Consequently, gold prices have continued to climb, while the US dollar has faced losses.
Spot gold prices in the international market remained steady at $2,707.19 (Rs 2,24,697.) an ounce, according to an ET report, while U.S. gold futures declined by 0.7%, settling at $2,730 (Rs 2,26,590).
Regarding trade tariffs, there has been ongoing speculation about Donald Trump's potential imposition of tariffs on certain countries following his election victory. However, following the coup, Trump has delayed the decision, stating that he will take more time to address the issue. This announcement provided relief to global stock markets, but the U.S. dollar came under pressure. As a result, gold prices surged due to the weakening of the dollar.
Gold Prices in India Continue to RiseThe trend of rising gold prices in India persists, with 24-carat gold now priced at approximately Rs 81,300 per 10 grams in most cities. Meanwhile, 22-carat gold is valued at Rs 75,000 per 10 grams.
Over the past three years, gold prices have seen a significant increase, largely due to escalating geopolitical tensions worldwide. In 2020, the price of gold was Rs 50,000 per 10 grams, but it has now surpassed Rs 80,000.
During the Trump administration in the United States, cryptocurrencies have experienced record growth, further contributing to financial market volatility.