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Below the Quote on Gold and Crude by Kaynat Chainwala, AVP-Commodity Research, Kotak Securities

Comex gold prices gained late in the US session as US Treasury yields declined for the second straight day. Investment demand continues to strengthen, with data from the World Gold Council showing that Chinese gold ETFs recorded robust inflows, rising by 29.1 metric tons in the first 11 days of April alone. This figure has already surpassed total Q1 inflows and is outpacing flows into US-listed gold funds. Meanwhile, President Trump is reportedly considering exemptions on auto tariffs, following temporary relief measures for certain tech products, while launching national security investigations into imports of pharmaceuticals and semiconductors. Today, COMEX gold surged to a record high of $3,311.70 per ounce, driven by growing trade war concerns after the US government tightened export rules to China. Trump also announced an investigation into whether tariffs are needed on critical minerals, further fueling market anxiety. Besides, investors are eyeing US retail sales data and a speech from Fed Chair Jerome Powell for further clues on the direction of monetary policy.