Gold retreats as dollar climbs on Trump tariffs in world

                           Gold 



Gold retreats as dollar climbs on Trump tariffs

 Gold prices fell nearly 1% on Monday after rising to an all-time high in the previous session, as the U.S. dollar strengthened on mounting fears of a global trade war following U.S. President Donald Trump's sweeping tariff measures.

Spot gold fell 0.9% to $2,776.05 per ounce by 0303 GMT after prices hit a record peak at $2,817.23 on Friday. U.S. gold futures were 0.9% lower at $2,810.80.

The U.S. dollar index hovered near a three-week peak, making greenback-priced gold more expensive for foreign buyers. [USD/]

Trump on Saturday levied 25% tariffs on imports from Canada and Mexico and 10% on goods from China starting on Tuesday. White House officials said there would be no exclusions from the tariffs

Gold futures hit all-time high of Rs 83,360/10gm

Gold prices on Saturday hit a fresh all-time high of Rs 83,360 per 10 grams in futures trade amid firm demand in spot market.

On the Multi Commodity Exchange, gold contracts for April delivery hit a record high of Rs 83,360 per 10 grams in early trade. The contract later pared some gains to trade Rs 1,127 or 1.35 per cent higher at Rs 82,233 per 10 grams with an open interest of 16,273 lots. The next month’s contract also hit a record high of Rs 82,210 per 10 grams.

Jewellery stocks rally on Budget boost, FM exempts income tax up to Rs 12 lakh to boost disposable income

Jewellery stocks were glittering in trade on February 1 after the Finance Minister Nirmala Sitharaman announced that under the new tax system, those earning up to Rs 12 lakh would not be obliged to pay taxes. This is expected to increase household consumption, savings, and investment.

Shares of Kalyan Jewellers, Motison Jewellers, Senco Gold, Goldiam International, Thangamayil Jewellery surged up to 4 percent.

On February 1, Sitharaman released Union Budget 2025-26. In her accompanying speech, she said that under the new regime, there is no tax on income up to Rs 12 lakh, and no tax on income up to Rs 12.75 lakh for salaried people, due to the standard deduction of Rs 75,000.

The jewellery industry's asks from the Union Budget were wide ranging, from further reduction in import duty on gold and setting up a regulator for digital gold, to asking for more attractive terms for gold monetisation scheme. However, the Finance Minister skipped to address these demands.


Gold hits record high on safe-haven demand amid tariff threats

Gold prices rose to hit a lifetime high on Thursday, sparked by safe-haven demand due to U.S. tariff threats, while the focus was also on a crucial inflation report for clues on the Federal Reserve's policy path.

Spot gold was up 1.4% at $2,796.15 per ounce, as of 11:07 a.m. (1603 GMT), hitting its record high level at $2798.24 earlier in the session. U.S. gold futures climbed 2% to $2,824.

We are seeing keener uncertainty and anxiety about the Trump administration's new policies on trade and foreign policy ... fresh technical buying coming in as prices are trending higher now in both gold and silver," said Jim Wyckoff, a senior market analyst at Kitco Metals.

Earlier this week, the White House said U.S. president Donald Trump plans to hit Mexico and Canada with steep tariffs on Saturday while also considering some on China.


Gold holds steady as investors eye Fed decision, Trump tariff moves


Gold prices were little changed on Wednesday as market participants awaited the U.S. interest rate verdict, while the spotlight was also on President Donald Trump's trade policies amid fresh tariff threats.

Spot gold held its ground at $2,762.49 per ounce, as of 0317 GMT. U.S. gold futures added 0.1% to $2,769.90.

Last week, prices were trading near record-high levels but they fell over 1% on Monday as investors rushed to liquidate bullion to offset losses triggered by a sharp pullback in technology stocks, spurred by DeepSeek's low-cost, low-power AI model.

"It's always a bit of a concern when a market fails to break through previous highs, but such a move is still in play," said Kyle Rodda, financial market analyst, Capital.com.

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