MCX Gold touched a record high of Rs 82100 per 10 gm after Trump said on Thursday that the United States would impose a 25% tariff on exports from Mexico and Canada, which increased uncertainty in the market as his plan stoked fears of trade wars and prospects of an economic slowdown. Additionally, the Advance GDP q/q came in at 2.3% against the forecast of 2.7%, which increased the probability of a rate cut in the next meeting, causing investors to flock towards the safe-haven asset. Looser monetary policies from major central banks further supported gold's momentum. The ECB cut rates as expected, leaving room for more reductions, while the BoC ended its quantitative tightening, and the Swedish Riksbank delivered rate cuts earlier in the week. The PBoC and RBI also signaled looser policies and higher liquidity. Gold is on track for its biggest gain since March 2024 for the month. In the MCX and Comex, prices are up by more than 6%, respectively.