Gold Price Today: Yellow metal climbs 1.2% after record high on safe-haven appeal amid tariff war | Stock Market News

Gold Price Today: International gold prices hit a record high on Thursday, March 27, as investors sought the safe-haven asset in response to the escalating global trade war tensions and tumbling equity markets following US President Donald Trump’s announcement of new auto tariffs.

Spot gold climbed 1.2 per cent to $3,057.12 an ounce after hitting an all-time high of $3059.30. Bullion has hit 17 record highs this year. US gold futures rose 1.5 per cent to $3,069.10 after an all-time high of $3,070.90 earlier in the session.

Spot silver rose 1.8 per cent to $34.30 an ounce after hitting their highest level since October 2024 earlier in the session. Platinum was last up one per cent at $984.32 per ounce and palladium added 1.3 per cent to $980.25.

Also Read: Gold price today: Rates rise on concerns over Trump’s reciprocal tariff; experts highlight key levels for MCX Gold

Gold Price Today: What’s boosting the yellow metal’s appeal?

-Gold price rallied with the main catalyst being safe-haven buying amid uncertainty around Trump’s tariff plans. Canada and Paris threatened retaliation after Trump unveiled a 25 per cent tariff on imported vehicles, set to come into effect the day after he plans to announce reciprocal tariffs, aimed at countries he says are responsible for the US trade deficit.

-Global stock markets fell as shares in some of the world’s biggest carmakers tumbled. According to experts, strong central bank inflows and demand for ETF also support the demand for yellow metal. Gold is seen as a hedge against economic and political uncertainty and often thrives in low interest rates.

-Global investors are awaiting the US Personal Consumption Expenditures data to gauge the trajectory for further rate cuts after the US Federal Reserve’s decision last week to hold its benchmark interest rate steady.

-Goldman Sachs raised its end-2025 gold price forecast to $3,300 per ounce from $3,100, citing stronger ETF inflows and sustained central bank demand. The dollar index, which measures the greenback against a basket of currencies, fell 0.2 per cent to 104.43, with the euro up 0.24 per cent at $1.0777.

Also Read: Gold and Silver prices today: Check prices in cities — Delhi, Mumbai, Chennai, Hyderabad, Kolkata, Hyderabad on March 27

Gold Price Today: Where is the yellow metal headed?

“Gold prices surged to $3,050 in Comex as the anticipated reciprocal tariffs from the US on April 2 fueled uncertainty. New threats from the US towards the Eurozone over potential support for Canada have heightened market risks, further boosting the safe-haven demand,” said Jateen Trivedi, VP Research Analyst – Commodity and Currency, LKP Securities.

According to Justin Khoo, Senior Market Analyst – APAC, VT Markets, “Gold is resilient above $3,000/oz despite easing concerns over Trump’s upcoming tariffs, as haven demand is supported by lingering uncertainty and upcoming US economic data, especially the PCE inflation index and GDP figures.”

“While improving risk sentiment and hopes of limited tariff scope have pulled gold slightly off the record highs, any signs of persistent inflation or recession risk could renew upward momentum,” added Justin Khoo.

Also Read: Donald Trump announces new auto tariffs: Which vehicles come under purview? Are they permanent? — All you need to know

Disclaimer: The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts, consider individual risk tolerance, and conduct thorough research before making investment decisions, as market conditions can change rapidly, and individual circumstances may vary.