Divya Delhi:  The local futures market for gold saw a price rebound this morning. A weaker US dollar, robust demand for gold on the local market, and good global cues all contributed to the surge. At approximately 9:10 AM local time, the price of 10 grammes of gold on the Multi Commodity Exchange (MCX) was 95,770 rupees, an increase of 1.11%. Ten grammes of 24-karat gold in Delhi was going for Rs 98,513 on the spot market. On Tuesday, April 22, gold prices in the retail sector reached ₹1 lakh per 10 grams earlier this week. Concerns over a potential trade war between China and the US caused the steep increase. The potential for escalating tensions between the world's two largest economies to dampen economic development was a major concern for investors. The faith of investors in the US economy has been damaged by President Trump's ever-changing trade policies. Consequently, the value of the US dollar has declined by 10% thus far in 2018. Gold prices have been driven higher by that, according to Prithviraj Kothari, Managing Director of RiddiSiddhi Bullions Limited (RSBL), as stated by media reports. With a 30% increase so far in 2025, gold prices have soared to an all-time high of $3,500 per ounce, which is equivalent to around ₹1 lakh every 10 grams. Nevertheless, there was a dramatic $200 (or almost ₹4,000) drop in prices not long ago as investors regained their confidence and began purchasing riskier assets once more. According to Jateen Trivedi, LKP Securities' VP and research analyst for commodities and currencies, who spoke with Mint, gold prices have been extremely volatile in April. He claims that there are indications on technical charts that the robust upward trend might be leveling out. In the next several days, he predicted, the price of 10 grams of gold will fluctuate between 94,000 and 98,000 rupees. Having said that, market volatility is expected to persist. The US Dollar Index has resumed its ascent from the 98.4 level, as Trivedi also noted. Meanwhile, remarks made by former US President Donald Trump imply that tariff disputes with China, Japan, and India would soon be settled. Because of these changes, gold is no longer seen as a "safe-haven" asset, which has led to a small decline in price. "Traders should be extra careful and follow strict risk management because the market is currently very stretched," Trivedi said, according to reports.