Gold prices surged by 1.15% to settle at ₹90,717, driven by strong safe-haven demand amid escalating geopolitical and trade tensions. Concerns arose as U.S. President Donald Trump hinted at higher tariffs on multiple countries, alongside potential secondary tariffs on Russian oil and additional measures against Iran. These uncertainties bolstered gold’s appeal as a hedge against economic and geopolitical instability. Additionally, San Francisco Federal Reserve Bank President Mary Daly’s comments on inflation data reinforced expectations that the Federal Reserve may delay interest rate cuts, further supporting gold prices.
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