Today’s Gold Rate: Prices Rise Amid Weak Dollar and Tariff Concerns, Know What Experts Say
Gold is not just a metal, it is the heartbeat of Indian hearts. Whenever the market is turbulent or uncertainty about the future, people first turn to gold. Today was no different, as gold prices soared once again.
1% Increase in Domestic Gold Prices
On Monday, gold prices in the domestic futures market saw a 1% rise. The June 5 contract on the MCX traded at approximately ₹93,317 per 10 grams at around 9:10 AM. The primary reasons for this increase were the weakness of the US dollar and growing concerns over former President Donald Trump’s tariff policies.
International Markets Also Witness Price Surge
Gold prices have also risen in international markets. The main reason for this was a comment by US Treasury Secretary Scott Besant, who stated that Trump might impose tariffs on trade partners who do not negotiate honestly. Following this statement, investors once again turned to gold as a ‘safe haven’ investment.
Dollar Index Decline Supports Gold Prices
Meanwhile, the dollar index also saw a decline of about 0.3%. When the dollar weakens, gold becomes cheaper in other currencies, leading to increased demand. This is why gold prices have experienced this surge.
Experts’ Opinion on Future Trends
Market experts believe that if the dollar continues to weaken or if there is increased political or economic uncertainty globally, gold prices could rise further. This is a sensitive time for investors, and fluctuations in gold prices are likely to continue.
Should You Buy Gold Now?
For those looking to buy gold, this could be an indication that prices might rise further. However, it is advisable to make any investment decisions carefully and consult with experts.
Disclaimer: This article is written solely for informational purposes. The information provided should not be construed as investment, financial, or legal advice. Before investing in gold or any other asset, please consult a qualified financial advisor.
