Gold Futures Decline on MCX Amid Profit Booking
Gold prices eased in futures trade on Tuesday, reflecting cautious investor sentiment amid renewed global trade uncertainties triggered by fresh tariff measures in the United States.On the Multi Commodity Exchange, gold contracts for April delivery fell by Rs 496, or 0.31 per cent, to Rs 1,61,102 per 10 grams. The contract recorded a business turnover of 7,587 lots during the session.
The decline pulled gold prices to around Rs 1.61 lakh per 10 grams, as traders booked profits following recent gains.
Comex Gold Falls Below USD 5,200 Per Ounce
In the international market, Comex gold futures for the April contract dropped by USD 28.16, or 0.54 per cent, to USD 5,197.44 per ounce. The fall pushed prices below the USD 5,200 mark after a four day rally.According to Kotak Securities, gold retreated as investors locked in profits after a sustained rally driven by trade policy uncertainty and geopolitical tensions in the Middle East. Despite the correction, the precious metal continues to find support from hedging demand amid fiscal risks.
Market participants are also awaiting key US confidence and manufacturing indices, which could influence near term price trends.
US Tariff Moves Add to Global Trade Tensions
The price movement comes against the backdrop of renewed tariff measures by the Trump administration. The US administration is seeking to revive its global tariff agenda after the Supreme Court last week blocked several levies imposed last year.Following the ruling, President Donald Trump announced a fresh 10 per cent tariff, effective from Tuesday, and has indicated that the rate could be increased to 15 per cent.
The development has prompted several countries to reassess their trade strategies. The European Union has paused the ratification process of its trade agreement, while India has deferred trade discussions with the United States.
Gold Outlook
While gold prices have seen a short term pullback, global fiscal risks and ongoing trade uncertainty continue to influence investor positioning. The direction of upcoming US economic data and further developments on tariffs are likely to shape the next move in gold futures trading.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.