Bengaluru, 28 March

Gold prices have been on the rise, continuing their upward trend as concerns grow over the potential economic fallout from US President Donald Trump's aggressive tariff policies. These policies have stoked fears of a global trade war, which, despite mixed economic data from the US, has created an atmosphere of uncertainty.

As of 28 March, gold prices saw a significant increase of Rs 326, bringing the price per 10 grams to Rs 88,710 in futures trading, largely driven by strong demand in the spot market. Meanwhile, India recently made a discovery of gold reserves in the state of Odisha, which has sparked anticipation surrounding an upcoming auction of a major gold mine in the region.

In response to the changing landscape of the gold market, the Indian government has also made strategic adjustments to its gold monetisation scheme. Parts of the scheme are being discontinued to reduce future financial liabilities and mitigate the risks associated with the volatile nature of gold prices.