Gold price today: Gold prices continue to maintain their upside momentum on Thursday, boosted by the safe-haven inflow supported by the US President Donald
Trump's move to impose an additional 25 per cent on Indian goods.
Multi-Commodity Exchange (MCX) gold futures for October 2025 per 10 grams were up 0.5 per cent or Rs 489 to Rs 1,01,724 per ounce as of 12:30 PM. Mirroring the gains in the yellow metal, Silver futures for September 2025 gained by 0.80 per cent or Rs 898 to quote at Rs 1,14,553 (per kg).
On Comex, gold gained nearly 0.7 per cent or USD 24.02 to stand at USD 3,457.4.
Trump on Wednesday signed an executive order imposing an additional 25% ad valorem tariff on Indian goods, specifically citing India’s continued crude oil imports from Russia.
"Safe-haven buying is expected to continue in both silver and gold, especially after Trump’s move to impose an additional 25 per cent tariff," Bhavik Patel from Tradebull Securities told ET Now.
Gold is traditionally regarded as a safe-haven asset, with demand typically increasing during periods of geopolitical uncertainty as investors seek stability and risk mitigation.
As of 12:30 pm, the dollar index was also down for the day, making dollar-priced bullion more affordable for foreign buyers. On the local currency level, the Indian rupee was also flat for the day.
Adding to the safe haven demand, Donald Trump said that he will impose a tariff of about 100 per cent on semiconductor chips imported from countries not producing in America or planning to do so.
According to Trump, the new tariff rate will apply to "all chips and semiconductors coming into the United States," but would not apply to companies that had made a commitment to manufacture in the United States or were in the process of doing so.
"Meanwhile, investors are closely monitoring US trade negotiations with other countries, as any new tariffs could further weigh on the economy, driving inflation higher, and in turn, support gold prices," Abans Financial Services CEO Chintan Mehta told PTI.
