Hyderabad, March 4 -- Gold prices continue their upward trend as US President Donald Trump's tariff policies drive investors toward safe-haven assets.

On Tuesday, MCX gold opened higher at Rs 85,399 per 10 gm. Within minutes, it reached an intraday high of Rs 85,518.

Moreover, the global spot gold price remained strong at USD 2,891 per ounce. It surged by 1.2 percent on Monday.

The new rally was triggered by Trump's confirmation that Mexico and Canada would not be exempt from upcoming tariffs. It also signed order doubling levies on China to 20 percent.

Geopolitical factors

Apart from tariffs, gold prices are also reacting to heightened geopolitical risks amid ongoing Russia-Ukraine conflict.

The uncertainty is further increased as ...