Gold crosses 91000 again with a gain of Rs 365, silver jumps by Rs 200

"Gold continued to gain momentum as global risk sentiment rose following the new auto tariffs announced by US President Donald Trump on Wednesday," said Saumil Gandhi, Senior Analyst, Commodities, HDFC Securities.

The yellow metal prices had surged to an all-time high of Rs 89,796 per 10 gram on March 20. In the international market, spot gold rose by $34.77 or 1.15% to close to a record high of $3,054.05 an ounce.

Jatin Trivedi, Commodity and Currency, LKP Securities, said, "Gold prices rose to close to $3,050 an ounce due to low GDP data in the US and fears of anticipated reciprocal tariffs from the US on April 2."

Trivedi said that new US threats towards the Eurozone, potentially supporting Canada, have increased the market risk. Which has further increased the demand for safe investments. In the Asian market, Comex gold futures for April delivery strengthened to a new peak of $3,094.85 an ounce.

According to Chintan Mehta, Chief Executive Officer of Abans Financial Services, Trump's policies remain apprehensive in the global market. Central banks are still accumulating gold to avoid economic and geopolitical instability. This has led to a strong demand for the precious metal. Mehta further said, "With rising geopolitical risks in the region, gold continues to be the preferred safe asset."

Investors are waiting for the US personal consumption expenditure (PCE) data to be released on Friday. These figures will serve as a key indicator for the next monetary policy of the US Federal Reserve. He said that traders are keeping an eye on the statements of various officials of the Federal Reserve.