Gold rate today: Gold prices surged by Rs 1,650 in Delhi on Monday, inching closer to the psychological Rs 1 lakh per 10 grams mark, driven by a weakening dollar and growing uncertainties surrounding the US-China trade war. According to the All India Sarafa Association, 99.9% purity gold reached Rs 99,800 per 10 grams, up from Rs 98,150 per 10 grams on Friday, when it had fallen by Rs 20.
Gold of 99.5% purity saw a rise of Rs 1,600, reaching a new high of Rs 99,300 per 10 grams, after settling at Rs 97,700 per 10 grams in the previous market close, as per news agency PTI.
This year, gold prices have seen a substantial increase of Rs 20,850, or 26.41%, per 10 grams since December 31, 2024.
Silver also gained Rs 500, reaching Rs 98,500 per kg, after closing at Rs 98,000 per kg on Friday.
Satish Dondapati, Fund Manager at Kotak Mahindra AMC, attributed the price movement to ongoing trade tensions, expectations of rate cuts, geopolitical uncertainties, and the weakening dollar. He highlighted that gold prices have surged over 25% this year, with a 6% increase since April 2, when the US administration announced new tariffs.
On the Multi Commodity Exchange, gold futures for June delivery surged by Rs 1,621 (1.7%) to reach a fresh high of Rs 96,875 per 10 grams.
In international markets, spot gold touched a record high of USD 3,397.18 per ounce, before slightly paring gains to trade at USD 3,393.49 per ounce. Gold futures also crossed the psychological USD 3,400 per ounce mark for the first time ever, rising by USD 80 (2.4%).
Pranav Mer, Vice President of Commodity & Currency Research at JM Financial Services, explained that gold’s rise was driven by trade tariff uncertainty, the weakening US dollar, and rising Treasury yields. He noted that increased buying activity from ETF investors and festive demand in India are providing additional support for the yellow metal.
Kaynat Chainwala, AVP of Commodity Research at Kotak Securities, pointed out that gold’s rally is also being fueled by a fall in the US dollar to a three-year low and intensified safe-haven buying following President Donald Trump 's threat to fire Federal Reserve Chair Jerome Powell.
Spot silver in the Asian market rose nearly 1% to USD 32.85 per ounce.
Chintan Mehta, CEO of Abans Financial Services, mentioned that market participants will be closely monitoring President Trump’s evolving tariff strategy and the potential economic impact, as well as the Federal Open Market Committee’s statements, for clues on the future direction of interest rates. Mehta suggested that signals of further easing or prolonged uncertainty could continue to elevate gold's appeal as a safe-haven asset.
Gold of 99.5% purity saw a rise of Rs 1,600, reaching a new high of Rs 99,300 per 10 grams, after settling at Rs 97,700 per 10 grams in the previous market close, as per news agency PTI.
This year, gold prices have seen a substantial increase of Rs 20,850, or 26.41%, per 10 grams since December 31, 2024.
Silver also gained Rs 500, reaching Rs 98,500 per kg, after closing at Rs 98,000 per kg on Friday.
Satish Dondapati, Fund Manager at Kotak Mahindra AMC, attributed the price movement to ongoing trade tensions, expectations of rate cuts, geopolitical uncertainties, and the weakening dollar. He highlighted that gold prices have surged over 25% this year, with a 6% increase since April 2, when the US administration announced new tariffs.
On the Multi Commodity Exchange, gold futures for June delivery surged by Rs 1,621 (1.7%) to reach a fresh high of Rs 96,875 per 10 grams.
In international markets, spot gold touched a record high of USD 3,397.18 per ounce, before slightly paring gains to trade at USD 3,393.49 per ounce. Gold futures also crossed the psychological USD 3,400 per ounce mark for the first time ever, rising by USD 80 (2.4%).
Pranav Mer, Vice President of Commodity & Currency Research at JM Financial Services, explained that gold’s rise was driven by trade tariff uncertainty, the weakening US dollar, and rising Treasury yields. He noted that increased buying activity from ETF investors and festive demand in India are providing additional support for the yellow metal.
Kaynat Chainwala, AVP of Commodity Research at Kotak Securities, pointed out that gold’s rally is also being fueled by a fall in the US dollar to a three-year low and intensified safe-haven buying following President Donald Trump 's threat to fire Federal Reserve Chair Jerome Powell.
Spot silver in the Asian market rose nearly 1% to USD 32.85 per ounce.
Chintan Mehta, CEO of Abans Financial Services, mentioned that market participants will be closely monitoring President Trump’s evolving tariff strategy and the potential economic impact, as well as the Federal Open Market Committee’s statements, for clues on the future direction of interest rates. Mehta suggested that signals of further easing or prolonged uncertainty could continue to elevate gold's appeal as a safe-haven asset.
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