New Delhi: Gold prices touched fresh peak on Wednesday in futures trading following global cues. The yellow metal hit an all-time high of Rs 94,781 per 10 grams in futures trade.
On the Multi Commodity Exchange, the gold contracts for June delivery hit a record high of Rs 94,781 per 10 grams in early trade. It however pared the gains later to trade Rs 1,317 or 1.41 per cent higher at Rs 94,768 per 10 grams with an open interest of 21,211 lots.
As Gold prices touched a new all-time high, amidst shifting of global investors confidence in the safe-haven assets in the wake of US trade policies, will the yellow metal continue to maintain its outstanding rally?
Jateen Trivedi, VP Research Analyst – Commodity and Currency, LKP Securities said, “Gold’s current rally is largely driven by safe-haven demand amid escalating US-China tariff tensions. As long as the narrative remains around trade wars and retaliatory tariffs, gold is likely to stay elevated”
He however, said that the moment the focus shifts toward constructive trade talks, we could see a swift pullback in prices—first toward $3150 and eventually closer to $2800 on Comex. Trivedi has also advised against aggressive fresh entries.
“At this stage, with MCX prices hovering around Rs 95,000 and Comex near $3300, I would advise against aggressive fresh entries. It’s not a market to time at elevated levels. A prudent approach would be to wait for meaningful corrections. Levels between ₹88,000–₹86,000 could offer better long-term entry points for investors,” he said.
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