Domestic gold prices gained on Monday to trade at Rs 93,900 as of 07:01 a.m., according to the India Bullion Association.
Rates in New Delhi were hovering around Rs 96,550 per 10 grams, according to the association. The price in Mumbai was marginally higher at Rs 96,720. In Kolkata, the rate rose to Rs 96,590. While in Bengaluru, it was at Rs 92,800. With the price at Rs 97,000, Chennai continued to see the highest rate in the country.
The futures prices for the yellow metal on the Multi Commodity Exchange were trading 0.02% higher at Rs 96,535 for the June 5 futures.
Gold prices have been climbing due to a combination of economic uncertainty, geopolitical tensions, and strong demand from central banks.
Leading the charge for economic uncertainty are expectations of a potential trade war which were offset by April 2 ‘Liberation Day’ tariffs imposed by US President Donald Trump on multiple countries and China imposing retaliatory tariffs on the US.
Gold Price Today
Domestic gold prices gained on Monday to trade at Rs 93,900 as of 07:01 a.m., according to the India Bullion Association.
Rates in New Delhi were hovering around Rs 96,550 per 10 grams, according to the association. The price in Mumbai was marginally higher at Rs 96,720. In Kolkata, the rate rose to Rs 96,590. While in Bengaluru, it was at Rs 92,800. With the price at Rs 97,000, Chennai continued to see the highest rate in the country.
The futures prices for the yellow metal on the Multi Commodity Exchange were trading 0.02% higher at Rs 96,535 for the June 5 futures.
Gold prices have been climbing due to a combination of economic uncertainty, geopolitical tensions, and strong demand from central banks.
Leading the charge for economic uncertainty are expectations of a potential trade war which were offset by April 2 ‘Liberation Day’ tariffs imposed by US President Donald Trump on multiple countries and China imposing retaliatory tariffs on the US.
Internationally, gold prices dropped by up to 1.75% during early trade, settling around $3,265.77 per ounce. This decline followed a weekly increase of 2.6%, as investors turned their attention to the results of upcoming trade negotiations between the US and China. The dollar’s appreciation made gold costlier for many buyers.
Both China and the US reported substantial progress after two days of talks in Switzerland, though no specific measures were immediately disclosed.
Notably the precious metal has been steadily climbing to record highs over the past six months as it recently hit an all-time high of $3,500 on April 22. Gold prices crossed the $3,000-an-ounce mark for the first time ever on March 14.
Silver Price Today
Silver prices were at Rs 96,990 on Tuesday, after crossing the Rs 1 lakh mark multiple times in the past couple of months, according to the India Bullion Association. Strong industrial demand for silver, fuelled by its importance in renewable energy technologies and electronics, has been driving the surge.
. Read more on Markets by NDTV Profit.The futures prices for the yellow metal on the Multi Commodity Exchange were trading 0.02% higher at Rs 96,535 for the June 5 futures. Read MoreMarkets, Business
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