Early Times Report
NEW DELHI, Mar 25: Gold prices climbed Rs 5,091 to Rs 1.44 lakh per 10 grams in futures trade on Wednesday amid strong global trends and a weak US dollar.
On the Multi Commodity Exchange, gold for the April contract appreciated by Rs 5,091, or 3.66 per cent, to Rs 1,44,003 per 10 grams.
Analysts said the rally in bullion was driven by improving sentiment in global commodities market.
"Gold prices experienced a notable rally on Wednesday driven by easing geopolitical tensions surrounding the US-Iran conflict and expectations of potential interest rate cuts amid inflation projections," Gaurav Garg, Research Analyst at Lemonn Markets Desk, said.
The precious metals market reacted positively to the signs of a ceasefire, which has alleviated some of the panic selling witnessed earlier, he added.
Aamir Makda, Commodity & Currency Analyst at Choice Broking said global central banks continued buying gold in 2026 despite record prices, led by China and Kazakhstan.
In the international market, gold futures for April delivery rose USD 157.9, or 3.59 per cent, to USD 4,559.9 per ounce.
Gold rose more than 2 per cent on Wednesday, buoyed by a softer dollar, while a drop in oil prices eased concerns about elevated inflation and higher global interest rates, amid reports of a US plan to end the war in West Asia, Jigar Trivedi, Senior Research Analyst at IndusInd Securities, said.
The weaker dollar made greenback-priced bullion cheaper for holders of other currencies, supporting demand, he added. |
