International News
MCX Gold at fresh high; Trump tariffs drives gold prices to record high
MCX Gold prices rose to a fresh record high in the morning session on Tuesday, February 11, supported by concerns over US President Donald Trump’s aggressive tariff policies. MCX Gold for April 4 contracts jumped to a record high of ₹86,360 per 10 grams. Around 11:35 AM, the yellow metal was 0.12 per cent up at ₹85,923 per 10 grams on the MCX.
International gold prices topped the key $2,900 level for the first time, driven by safe-haven demand amid heightened concerns over a trade war. Comex Gold jumped to a record high of 2,968.50 level.
Trump imposed a 25 per cent tariff on steel and aluminium imports on Monday, stoking fears of a trade war. Geopolitical uncertainty and aggressive buying by central banks have boosted gold prices of late.
Dubai Diamond Exchange (DDE) and the London Diamond Bourse (LDB) have signed a Memorandum of Understanding (MoU) aimed at strengthening cooperation between the two diamond trading centres, expanding business opportunities for members, and promoting responsible growth across the global diamond and gemstone trade. The agreement was announced on 8 July 2026.
The MoU establishes a framework for collaboration in responsible trading, commercial development, knowledge sharing, and closer engagement between members of the two bourses. It also seeks to encourage dialogue on issues affecting the international diamond industry as trading centres adapt to an increasingly interconnected global marketplace.
The agreement was signed by Ahmed Bin Sulayem, Chairman of the Dubai Diamond Exchange, and Charlotte Rose, President of the London Diamond Bourse. It marks the first formal international partnership under Rose’s presidency, which began in June.
Ahmed Bin Sulayem, Chairman, Dubai Diamond Exchange, said:
“The Dubai Diamond Exchange was built on the belief that connecting markets creates opportunity. This partnership with the London Diamond Bourse reflects that philosophy, bringing together two major diamond trading centres to strengthen collaboration and expand opportunities for our respective members. The future of our industry will not be built by individual markets acting alone. By working more closely together, we can establish a stronger network of trusted trading centres, sharing expertise, upholding recognised standards, and reinforcing confidence and growth across the global diamond trade.”
Charlotte Rose, President, London Diamond Bourse, noted:
“There is no better partner for the London Diamond Bourse to begin this new chapter with than the Dubai Diamond Exchange. As a fellow member of the World Federation of Diamond Bourses, the DDE shares our commitment to trusted, well-governed trading, and this agreement opens up real opportunities for members on both sides. I’m looking forward to seeing where this partnership takes us.”
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