Gold Rate Today: Prices Rise Amid US Economic Uncertainty

Market Performance

Today, the gold rate has witnessed a marginal rise in the domestic futures market following global economic cues. On Thursday morning, MCX Gold June 5 contracts were trading at ₹97,200 per 10 grams, up 0.11% around 9:15 AM.

This upward movement in gold prices came shortly after the US Federal Reserve flagged persistent economic uncertainty and inflationary pressures.

Main News

The US Federal Reserve’s Federal Open Market Committee chose to leave key interest rates unchanged during its most recent policy meeting on May 7.

While the Fed confirmed that the US economy remains strong, it also expressed concerns over elevated risks, mainly due to ongoing trade and tariff policies.

Federal Reserve Chair Jerome Powell noted that tariff issues have become “significantly larger than anticipated,” adding to the overall unpredictability of the US economic outlook.

This statement influenced global markets, leading to a mixed performance in US stocks and a volatile dollar index.

Company Details

Amidst this backdrop, gold continues to hold investor interest as a haven. The recent uptick in gold prices is closely watched, especially as expectations grow around an upcoming trade deal between the US and its trading partners, including China and India.

Top-level trade talks are scheduled in Switzerland this week, with US Treasury Secretary Bessent and Chief Trade Negotiator Jamieson Greer expected to meet China’s economic leader, He Lifeng.

On the sidelines, US President Donald Trump announced on May 6 that India has agreed to eliminate tariffs on certain US imports, which may further influence gold market sentiment.

Summary of the Article

• Gold rate today climbed to ₹97,200 per 10 grams, showing a 0.11% increase in early trade.
• The US Fed held interest rates steady, citing economic uncertainty and tariff-related risks.
• The hope of a US-China trade agreement is rising, with talks planned for Switzerland this week.
• India’s move to reduce import tariffs may also impact future market dynamics.