Gold prices edged close to the Rs 1,10,000 mark with prices at Rs 1,09,820 on Monday. The prices were at Rs 1,09,800 per 10 gm on Saturday, according to the India Bullion Association. The prices recently crossed the Rs 1,09,000 mark and since then, the yellow metal surged to over Rs 1,09,400 to hit the previous record.
The escalation of tensions on a global scale has pushed demand for the yellow metal higher. Expectations of a possible rate cut from the Fed also drive the rally.
Due to the volatility in trade and escalating geopolitical tensions, there is a rise in demand for the safe-haven metal, according to market and commodities expert Anuj Gupta. Gold futures have also hit a fresh record high.
Gold Prices In Delhi, Mumbai, Bangalore, Chennai
In New Delhi, the price stood at Rs 1,09,430 per 10 gm, and in Mumbai, it stood at Rs 1,09,620 on Monday.
In Bengaluru, the rate stood at Rs 1,09,710, while in Kolkata, it was Rs 1,09,470 per 10 gm. The price of the precious commodity was the highest in Chennai, trading at Rs 1,09,940 per 10 gm.
The spot gold price was trading flat at $3,632 an ounce, according to the World Gold Council, hovering near the previous high. Oct. 3 futures for the yellow metal were trading flat at Rs 1,09,356, according to the Multi Commodity Exchange.
Silver Price
The precious metal’s price rose to Rs 1,28,730 per kilogram, according to the India Bullion Association. That compared with Rs 1,28,710 per kg on Saturday.
Oct. 5 futures for silver were trading higher at Rs 1,28,840 according to the Multi Commodity Exchange.
. Read more on Markets by NDTV Profit.Gold prices edged close to the Rs 1,10,000 mark with prices at Rs 1,09,820 on Monday. Read MoreMarkets, Business NDTV Profit
