Gold prices have breached Rs 80,000 per 10 grams levels in major Indian cities, recovering from the impact of Donald Trump's expected high tariff trade policy and a firm US dollar, analysts said.
The uncertainty surrounding the US economy and volatile stock markets are also driving inflows into the safe-haven, however, the US Federal Reserve's (Fed) cautious attitude towards policy interest rate and strong US dollar are acting as headwinds for the bullion, analysts stated.
On the Multi Commodity Exchange (MCX), gold prices tanked Rs 6,775, or 8.5 per cent, to hit Rs 73,000 per 10 grams after Donald Trump's victory raised expectations of a restricted trade policy by the US.
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