Gold Price Soars to Record Highs Amid Global Tensions, Tariff Threats
Business
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Moneycontrol•28-01-2026, 11:17
Gold Price Soars to Record Highs Amid Global Tensions, Tariff Threats
- •Gold price peaked at Rs 1.72 lakh per 10 grams and $5,220 per ounce on January 28, driven by trade uncertainty and geopolitical events.
- •On MCX, domestic futures opened at a record Rs 1,72,430 per 10 grams, showing a 2.55% gain from the previous close.
- •Geopolitical tensions, including US-NATO disputes over Greenland, Ukraine and Gaza crises, and the US capture of Venezuela's President, are fueling gold's rise.
- •Threats of US tariffs on Canada (100% if it deals with China) and South Korea (25%) are intensifying safe-haven demand for bullion.
- •Experts like Jateen Trivedi of LKP Securities predict continued momentum for gold due to global trade uncertainty, with resistance at Rs 1,62,500.
Why It Matters: Gold prices hit record highs globally due to escalating geopolitical tensions and US tariff threats, boosting safe-haven demand.
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