Gold prices have surged to an all-time high today, fueled by a lower dollar, trade war tensions, and concerns about global economic growth as a result of US President Donald Trump’s tariff plans, which prompted safe-haven inflows.

On Tuesday, President Trump ordered a probe into potential duties on all vital mineral imports, signalling a tougher stance on trade and potentially influencing relations with important suppliers, notably China.

This development somewhat negates the market relief provided by the recent exclusion of certain tech products from reciprocal tariffs, as well as the suggestion of possible exemptions for auto parts.

Increasing chances of a deeper recession, another turn in the geopolitical landscape, disruptions in global supply chains, and fears of increasing inflation coupled with a changing rate outlook suggest that gold will maintain its strong position in the near future.

Technical Triggers      

As the gold active Jun contract has sustained above $3245, is expected to continue its bullish momentum to touch $3300 (~Rs 95000) and $3320 (~Rs 95500) going ahead.

Silver after achieving the target of $32 (~Rs 94000), we are likely to see this rally extending further towards $33 (Rs 95500) and beyond this week.