Gold Price Soars to Record Highs Amid Global Tensions, Tariff Threats

• Gold price peaked at Rs 1.72 lakh per 10 grams and $5,220 per ounce on January 28, driven by trade uncertainty and geopolitical events.
• On MCX, domestic futures opened at a record Rs 1,72,430 per 10 grams, showing a 2.55% gain from the previous close.
• Geopolitical tensions, including US-NATO disputes over Greenland, Ukraine and Gaza crises, and the US capture of Venezuela's President, are fueling gold's rise.
• Threats of US tariffs on Canada (100% if it deals with China) and South Korea (25%) are intensifying safe-haven demand for bullion.
• Experts like Jateen Trivedi of LKP Securities predict continued momentum for gold due to global trade uncertainty, with resistance at Rs 1,62,500.

Why It Matters: Gold prices hit record highs globally due to escalating geopolitical tensions and US tariff threats, boosting safe-haven demand.