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MCX Gold at fresh high; Trump tariffs drives gold prices to record high

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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.

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International News

Paraiba Tourmalines Deposit Discovered In Ethiopia

SSEF Said Trace-Element Data From The Suspected Ethiopian Material Overlaps Considerably With Stones From Established Localities, Particularly Brazil

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The Swiss Gemmological Institute (SSEF) has received credible reports indicating the discovery of a new deposit of copper-bearing tourmalines, known in the trade as Paraíba tourmalines, in Ethiopia.

The development coincides with the submission of several stones whose geographic origin proved difficult to determine using existing methods. Preliminary analyses suggest some may originate from Ethiopia.

Since their discovery in Brazil in the late 1980s, Paraíba tourmalines have been prized for their vivid “neon” blue and bluish-green colours caused by copper within their crystal structure. Additional deposits were later found in Nigeria and Mozambique, with the latter becoming a major source.

SSEF said trace-element data from the suspected Ethiopian material overlaps considerably with stones from established localities, particularly Brazil, making origin determination challenging. The institute is conducting further research to characterise the new material and refine methods for distinguishing it from copper-bearing tourmalines from other sources.

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