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Mumbai, March 4, 2025: Investors flocked to gold on Tuesday as Donald Trump’s reaffirmed tariffs on Mexico and Canada triggered global market turmoil, pushing up demand for the precious metal.

Gold prices soared over ₹700 in the morning session.
22-carat gold was trading at ₹80,100 per 10 grams.
24-carat gold hit ₹87,380 per 10 grams in Mumbai.

Silver also gained ₹1,000, driven by weak equity markets and rising geopolitical tensions. It was trading at ₹98,100 per kg in major Indian cities.

On the Multi Commodity Exchange (MCX), gold traded slightly up at ₹85,511 per 10 grams, while silver dropped 0.6% to ₹95,998 per kg in early trade.

Why Are Gold Prices Rising?

Global Market Uncertainty Driving Safe-Haven Demand

  • Trump’s renewed tariffs on Mexico and Canada led to major losses in global equity markets, prompting investors to shift to gold as a safe-haven asset.
  • US stock markets saw a sharp decline, while India’s Sensex and Nifty opened lower.

Stock Market Impact:

  • Nifty fell below 22,000 for the first time since July 2024, opening 172 points lower at 21,974.45.
  • Sensex opened at 72,817, down 150 points (0.20%) from the previous day.

Gold as a Safe-Haven Investment

  • 24-carat gold, known for its purity, continues to attract premium buyers.
  • 22-carat gold, prized for durability and affordability, remains a popular choice for jewelry and investment.

Gold Prices Across Major Indian Cities (March 4, 2025)

City22K Gold (per 10gm)24K Gold (per 10gm)
Delhi₹80,250₹87,530
Jaipur₹80,250₹87,530
Ahmedabad₹80,150₹87,430
Patna₹80,150₹87,430
Mumbai₹80,100₹87,380
Hyderabad₹80,100₹87,380
Chennai₹80,100₹87,380
Bengaluru₹80,100₹87,380
Kolkata₹80,100₹87,380

Silver Prices in India Today (March 4, 2025)

Silver prices surged ₹1,000 in the morning session, trading at ₹98,100 per kg across major Indian cities.

What Influences Gold Prices in India?

The gold rate in India is determined by several factors, including:
International market trends
Import duties & taxes
Fluctuations in exchange rates
Demand during weddings & festivals

Gold remains a significant cultural and financial asset in India, making it a preferred investment choice.

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