Gold and silver prices have shown notable movement in the national capital, reflecting rising demand from retail buyers and the jewellery sector. On Wednesday, the price of 99.9% pure gold increased by ₹60, bringing it to ₹88,850 per 10 grams, compared to ₹88,790 the previous day, according to the All India Sarafa Association. This rise in gold prices indicates a steady interest in precious metals amid fluctuating market conditions.
Silver Prices Soar to New Heights
In a remarkable shift, silver prices also surged, climbing by ₹1,300 to reach ₹1,00,200 per kg. This marks a significant uptick from the previous closing price of ₹98,900 per kg, reaching its highest level in nearly three weeks. Additionally, gold with 99.5% purity saw a similar increase, rising by ₹60 to settle at ₹88,450 per 10 grams.
International Market Insights
On the global stage, spot gold remained stable, trading at $2,915.73 per ounce. Analysts attribute this flat performance to a weakening U.S. dollar, which recently hit a five-month low. Concerns about the U.S. economy, compounded by geopolitical tensions and the unpredictable nature of President Donald Trump’s trade policies, have contributed to the dollar’s decline. Chintan Mehta, CEO of Abans Financial Services, noted that these economic uncertainties are keeping investors cautious.
Future Projections
Looking ahead, Comex futures for April delivery showed a positive trend, trading at $2,921.30 per ounce. Meanwhile, silver spot prices in the Asian markets gained 0.25%, reflecting a current price of $33.03 per ounce.
- Gold (99.9% purity): ₹88,850 per 10 grams
- Gold (99.5% purity): ₹88,450 per 10 grams
- Silver: ₹1,00,200 per kg
As gold and silver continue to attract attention from investors, market watchers are keenly observing how geopolitical and economic developments will impact these precious metals in the upcoming weeks. For those considering investing in gold, this current rally may present a timely opportunity.
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