Gold halts record rally, drops ₹2,400 to ₹99,200/10 g amid easing U.S.-China tensions
The Hindu
Gold prices hit record highs, then sharply fell due to easing tariff concerns, with silver prices also fluctuating.
Gold prices took a U-turn from the historic ₹1 lakh-mark and declined ₹2,400 to ₹99,200 per 10 gram in the National Capital on Wednesday (April 23, 2025) amid weak global trend.
According to the All India Sarafa Association, the precious metal of 99.9% purity spurted by ₹1,800 to hit the lifetime peak of ₹1,01,600 per 10 grams on Tuesday.
Gold of 99.5% fall sharply by ₹3,400 to ₹98,700 per 10 grams on Wednesday, a day after jumping ₹2,800 to an all-time high of ₹1,02,100 per 10 grams in the local markets.
"Gold prices corrected after reaching record highs, as safe-haven demand softened following President Donald Trump's comments that the steep tariffs on Chinese goods imposed during the trade war escalation will soon be substantially reduced," Abans Financial Services' Chief Executive Officer Chintan Mehta said.
Meanwhile, silver prices jumped ₹700 to ₹99,200 per kg on Wednesday. The white metal had closed flat at ₹98,500 per kg in the previous session.
On the Multi Commodity Exchange (MCX), gold futures for June delivery dipped ₹1,435 or 1.47% to ₹95,905 per 10 grams. It rose to touch a record high of ₹99,358 per 10 grams in the previous market close.
In addition, the price of August contract depreciated by ₹1,330 or 1.36% to ₹96,669 per 10 grams against the previous close of ₹1,00,000 per 10 grams, also its historic high on the MCX.
Run 3 Space | Play Space Running Game
Traffic Jam 3D | Online Racing Game
Duck Hunt | Play Old Classic Game
Rupee strengthens against US dollar on positive equity markets and foreign inflows, but capped by global factors.
Malaysia Airlines increases flights between Thiruvananthapuram and Kuala Lumpur, benefiting passengers traveling to Australia, New Zealand, and Southeast Asia.
SBI Chairman presents ₹8,076.84 crore dividend cheque to Finance Minister Nirmala Sitharaman for FY 2024-25.
Analysts warn of overvalued stocks in key sectors due to disconnect with company performance, retail investor reliance on narratives.
Life insurance companies in India saw a 12.68% increase in new business premium to ₹30,463.21 crore in May.
Government eases regulations for SEZs manufacturing semiconductors, allowing domestic supply, promoting investments in high-tech sectors.
Switzerland reforms UBS to prevent crisis, impacting global growth and financial stability, raising concerns over banking sector.
Rupee closes at 85.64 against USD, supported by equities and capital inflows, impacted by global factors.
Sensex and Nifty rise for fourth consecutive day on global rally and RBI rate cut, with bank stocks leading gains.
China's trade surplus reaches $103.2 billion as imports decline, with U.S.-China trade talks set to continue in London.
Rupee depreciates against US dollar due to high crude oil prices, aggressive RBI rate cut, and dollar index rise.
Sensex and Nifty surge on global rally and RBI rate cut, boosting investor sentiment and market spirits.
Mental health awareness is growing, with insurance plans now covering therapy and counselling, reflecting a shift in healthcare priorities.