New Delhi: Following recent tariff decisions by US President Donald Trump, gold and silver prices have rebounded and on Monday, the precious metals experienced notable price increases, with silver hitting another all-time high.
The price of silver increased by Rs 3,577 to Rs 1,13,867 per kg from Rs 1,10,290 per kg. The rise came after silver prices experienced a comparable spike last Friday, when they also hit a record high.
Before this, on June 18, silver reached its previous all-time high of Rs 1,09,550 per kg.
Meanwhile, 24-carat gold’s price increased by more than Rs 700. The price of 24-carat gold rose by Rs 792 to Rs 98,303 per 10 grams, from Rs 97,511 per 10 grams last Friday, according to the India Bullion Jewellers Association (IBJA).
In addition, the price of 22-carat gold increased from Rs 89,320 per 10 grams to Rs 90,045 per 10 grams. In the meantime, the price of 10 grams of 18-carat gold rose from Rs 73,133 to Rs 73,727.
IBJA updates the prices of gold and silver twice a day.
Gold prices decline on the global market, but silver prices have been rising steadily. Silver increased by 0.59 per cent to $39.185 an ounce, while gold dropped by 0.12 per cent to $3,359.80 an ounce.
According to analysts, Gold prices saw a positive trend with gains as renewed global tariff tensions kept the outlook firm.
“With the US imposing additional tariffs on trade partners on Euro Canada Mexico etc from US, dollar index broad weakness, and a recent weak rupee, making bullion a preferred safe-haven,” said Jateen Trivedi, VP Research Analyst, Commodity and Currency, LKP Securities.
“Uncertainty remains elevated, driving safe-haven demand for gold. This week’s key US CPI data will be closely watched by participants. Technically, gold holds a positive bias as long as it trades within the broader range of Rs 97,500–Rs 99,500,” he added.
(IANS)
