Gold soared to a fresh record of $3177 per ounce, as investors rushed to safety ahead of Trump’s tariff bombshells, igniting fears of a global trade war. The new reciprocal tariffs, rolling out Wednesday, will hit all nations, with auto tariffs following on Thursday, stoking market uncertainty. Meanwhile, bullion’s rally is supercharged by rate-cut bets, central bank buying, and ETF demand. Gold just locked in its best quarter since 1986, surging 19.3%. On MCX, June futures hit an all-time high of ₹91400 per 10 grams, climbing ₹450. Investors now focus on US job openings, ADP employment, and Friday’s non-farm payrolls for Fed rate clues. A weaker labor market could accelerate rate cuts, keeping gold’s momentum strong.
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