Gold Price, Gold Price Today: Gold is advancing toward a new high, surpassing the $2,950 mark on Comex futures today. Silver also recorded gains, reflecting strong market momentum. Former U.S. President Donald Trump on Tuesday claimed Ukraine was responsible for Russia’s invasion, arguing that Kyiv could have reached a deal to prevent the conflict. Speaking at his Mar-a-Lago resort, Trump criticized Ukrainian President Volodymyr Zelenskyy, who voiced concerns over being excluded from U.S.-Russia talks in Saudi Arabia.
“You should have never started it,” Trump said, asserting that he has the power to end the war. “You could have made a deal.”
New Zealand Cuts Interest Rates Amid Economic Concerns
On Wednesday, New Zealand’s central bank slashed its benchmark interest rate by 50 basis points to 3.75%, marking its fourth consecutive cut. The move comes as easing inflation provides room for policymakers to stimulate a struggling economy.
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Trump Plans 25% Tariffs on Key Imports
Trump also announced plans to impose 25% tariffs on automobile, semiconductor, and pharmaceutical imports, with a formal decision expected by April 2. The proposed tariffs would expand his previous trade policies, which already include 25% duties on steel and aluminum, set to take effect in March.
“I probably will tell you that on April 2, but it’ll be in the neighborhood of 25%,” Trump stated when asked about auto tariffs.
Gold and Silver Surge Amid Trade War Fears
Gold and silver prices surged in international markets on Tuesday as investors sought safe-haven assets amid uncertainty over U.S. trade policies.
- Gold (April futures): $2,949.00 per troy ounce (+1.30%)
- Silver (March futures): $33.373 per troy ounce (+1.52%)
- Domestic Market:
- Gold (April futures): ₹86,113 per 10 grams (+1.24%)
- Silver (March futures): ₹96,848 per kg (+1.33%)
Gold reached a historic high of $2,949 per troy ounce, driven by safe-haven demand and central bank purchases. However, ongoing Russia-Ukraine ceasefire discussions may cap further gains.
Technical Outlook & Market Forecast
Manoj Kumar Jain, Director at Prithvi Finmart, expects gold and silver prices to remain volatile due to fluctuations in the dollar index, trade tensions, and upcoming Federal Reserve policy announcements.
- Gold Support: $2,922–$2,904 | Resistance: $2,970–$2,988
- Silver Support: $33.00–$32.80 | Resistance: $33.60–$33.94
- MCX Gold Support: ₹85,820–₹85,500 | Resistance: ₹86,400–₹86,800
- MCX Silver Support: ₹96,100–₹95,500 | Resistance: ₹97,750–₹98,400
Jain suggests buying silver around ₹96,400 with a stop loss of ₹95,750 for a target of ₹98,000.
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Disclaimer:
The information provided in this article is for informational purposes only and reflects the views of industry experts. Before making any investment decisions, it is recommended that you consult a financial advisor. The team at Gold Price Today does not engage in personal buying, selling, or trading of gold or silver on exchanges. We are not responsible for any gains or losses incurred based on the information presented here
