Gold prices experienced a notable increase on Tuesday, March 18, driven by rising concerns over a potential global economic slowdown. This uncertainty was largely attributed to the impact of US President Donald Trump's tariff policies. As the global financial landscape becomes more unpredictable, investors are increasingly turning to gold as a safe haven.

Gold Price Increase on March 18

On March 18, the price of 22-karat gold rose to Rs 82,500 per 10 grams, marking an increase of Rs 400. The price of 24-karat gold also surged, reaching Rs 90,000 for every 10 grams, which was a Rs 440 jump from the previous day. This rise in gold prices comes as investors react to growing concerns about the effects of US trade policies on global markets.

Gold Price Per Gram in India

For those purchasing gold in smaller quantities, the price per gram also saw an upward trend:

• 24-karat gold: Rs 9,000 per gram
• 22-karat gold: Rs 8,250 per gram
• 18-karat gold (999 gold): Rs 6,750 per gram, which saw a slight increase of Rs 32.

MCX Gold Reaches Record High

The prices of gold on the Multi Commodity Exchange (MCX) for the April 4 contract also set a new record. As of March 18, MCX gold hit a peak of Rs 88,418, and by 9:45 AM, the price stood at Rs 88,385 for every 10 grams, reflecting a 0.41% increase. This signifies a continuous upward trend in gold prices, largely influenced by external economic factors such as changes in global demand, currency exchange rates, and geopolitical events.

Factors Influencing Gold Prices

Gold prices are highly volatile and sensitive to a variety of factors, both domestic and international. These factors include:

Global Economic Uncertainty: Changes in the global economy, such as trade tensions and financial crises, can drive investors towards gold as a protective asset.

Interest Rates: Central banks’ decisions to raise or lower interest rates can influence the attractiveness of gold as an investment.

Currency Exchange Rates: Fluctuations in the exchange rate, particularly between the US dollar and the Indian Rupee (INR), can have a significant impact on gold prices in India.

Government Policies: Policy changes, both domestic and international, such as tariff impositions or financial regulations, can contribute to the volatility of gold prices.

International Events: Major international events, such as wars or global health crises, can lead to an increase in demand for gold as a secure asset.

Gold Prices in Major Indian Cities

Gold prices can vary slightly from city to city due to factors like local demand, taxes, and shipping costs. Below are the prices of gold (per gram) in some of the major cities across India on March 18:

These prices reflect the ongoing fluctuations in the gold market, which can be influenced by local and global economic factors.

Gold remains a valuable asset, particularly during times of economic uncertainty. The rise in gold prices on March 18 is a testament to the growing concerns about the global economy, influenced by policy decisions and market volatility. As prices continue to rise, many are turning to gold for financial security. Whether you’re buying gold for investment purposes or as a safeguard against economic fluctuations, it's important to keep an eye on these developments as they can significantly impact the gold market in the coming months.