Gold price today: Yellow metal jumps nearly 2% as geopolitical, trade war worries spark safe-haven demand
Gold Price Today: Gold prices on India's Multi Commodity Exchange (MCX) jumped nearly 2 per cent on Monday, 2 June 2025, as investors moved back to safe-haven assets due to heightened geopolitical tensions and trade war worries.
Gold futures of the 5 June 2025 contract jumped 1.7 per cent or ₹ 1,630 per 10 grams to hit an intraday high of ₹ 97,505 per 10 grams on Monday's commodity market session, compared to ₹ 95,875 per 10 grams in the previous market close last week.
Investors tend to pull out their money from high-risk investments like the equity markets in case of geopolitical uncertainties in the global market. Safe-haven assets like gold and government treasuries are the focus of global market investors.
Deveya Gaglani, a senior research analyst of commodities at Axis Securities, attributed the rise of the precious yellow metal gold to the intensifying geopolitical tensions between Russia and Ukraine after the drone attack on Sunday, 1 June 2025.
'The better-than-expected consumer data print from the USA and a mild recovery in the dollar index led to selling in the counter. During the weekend, geopolitical tension intensified between Russia and Ukraine after Russian warplanes were damaged due to a Ukrainian drone attack. This led to a gap-up opening in the MCX,' said the commodity market expert.
(This is a developing story. Please check back for updates.)
Read all stories by Anubhav Mukherjee
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
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