Gold Gains on Tariff Fears — Market Talk

Aluminum decreased to a 6-week low of 2599.00 USD/T. Over the past 4 weeks, Aluminum lost 0.3%, and in the last 12 months, it increased 11.26%.

Gold prices surged on March 27 as global uncertainties rose after US President Donald Trump announced fresh tariffs. According to the India Bullion and Jewellers Association, gold (999 purity) was trading at around Rs 87,955 per 10 gm on March 27.

Let's check the latest prices of 10 grams of 22 carat and 24 carat gold in major cities of the country:

CityPrice of 22k gold

Price of 24k goldDelhiRs 82,500/10g

Rs 89,990/10gMumbaiRs 82,350/10g

Rs 89,840/10gChennaiRs 82,350/10g

Rs 89,840/10gKolkataRs 82,350/10g

Rs 89,840/10gBengaluruRs 82,350/10g

Rs 89,840/10gJaipurRs 82,500/10g

Rs 89,990/10gLucknowRs 82,500/10g

Rs 89,990/10gHyderabadRs 82,350/10g

Rs 89,840/10gAhmedabadRs 82,400/10g

Rs 89,890/10g

(as per data on Good Returns)

Gold's April contracts on the Multi Commodity Exchange of India (MCX) traded at Rs 87,785 per 10 gram on March 27.

"Today, gold prices are likely to trade higher as investors drove towards safe haven assets for US President Donald Trump's sweeping reciprocal tariff plans which they fear will fuel inflation and hinder economic growth," Angel One said in its latest report.

Also read: Trump hits auto imports with 25 percent tariff starting next week

While 24-carat gold is a 100 percent pure form of gold with no trace of any other metal, the 22-carat variant has 91.67 percent pure gold along with some traces of alloyed metals like silver or copper.Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before making any investment decisions.

Oil prices slip in early trade as traders weigh the impact on global demand of U.S. President Trump's 25% tariffs on all imported cars and trucks. Brent crude is down 0.3% at $72.81, while WTI falls 0.4% to $69.39 a barrel. Crude futures settled 1% higher in the previous trading sessions, driven by concerns over tightening supplies amid U.S. pressure on Iranian and Venezuelan exports and declining U.S. inventories. Traders now await the White House's announcement of reciprocal tariffs on U.S. trading partners due on Wednesday. "Until clarity emerges on the magnitude and scope of tariffs and their implementation, risk appetite is likely to remain muted," analysts at ANZ Research say. (giulia.petroni@wsj.com)

Brent crude oil futures eased toward $73 per barrel on Thursday, reversing some of the previous session’s gains as traders evaluated the potential impact of US auto tariffs on the oil market.

Higher vehicle prices could weigh on crude demand while also slowing the shift to cleaner energy.

Still, oil found support as US sanctions and tariffs heightened supply risks from key producers like Iran and Venezuela.

India’s Reliance Industries, operator of the world’s largest refining complex, plans to halt Venezuelan oil imports following the US threat of 25% tariffs on buyers of its crude.

Additionally, government data showed US crude stockpiles fell by 3.34 million barrels last week, the steepest drop since December, while gasoline inventories also declined.

WTI crude oil futures eased toward $69 per barrel on Thursday, reversing some of the previous session’s gains as traders evaluated the potential impact of US auto tariffs on the oil market.

Higher vehicle prices could weigh on crude demand while also slowing the shift to cleaner energy.

Still, oil found support as US sanctions and tariffs heightened supply risks from key producers like Iran and Venezuela.

India’s Reliance Industries, operator of the world’s largest refining complex, plans to halt Venezuelan oil imports following the US threat of 25% tariffs on buyers of its crude.

Additionally, government data showed US crude stockpiles fell by 3.34 million barrels last week, the steepest drop since December, while gasoline inventories also declined.

Silver prices rose above $33.70 per ounce on Thursday, extending weekly gains to over 2% as escalating global trade tensions fueled demand for safe-haven assets.

On Wednesday, President Donald Trump announced a 25% tariff on all imported cars and light trucks, set to take effect on April 2, alongside reciprocal tariffs on countries imposing levies on US goods—measures he vowed to maintain throughout his second term.

The tariffs raised fears of retaliation, adding pressure on US economic growth while potentially reigniting inflation.

Meanwhile, expectations of further Federal Reserve rate cuts also supported silver prices.

Traders are currently pricing in two quarter-point cuts this year—one in June and another in September—while the probability of a third cut in December is rising.