Gold and silver prices again today big boom, know how much will have to be paid for 10 grams of gold
Gold prices rose again in the national capital Delhi on Wednesday and it jumped ₹ 200 per 10 grams. According to the All India Bullion Association, gold with 99.9% purity closed at ₹ 98,820 per 10 grams on Tuesday, which increased to ₹ 99,020 per 10 grams on Wednesday. According to PTI news, the price of gold with 99.5% purity gained ₹ 100 to ₹ 98,600 per 10 grams (including all taxes), while it closed at ₹ 98,500 on Tuesday. The All India Sarafa Association says that this bounce in the price of gold has been seen due to frequent purchases by stockists.
Silver also rose by ₹ 500
According to the news, the price of silver also became ₹ 500 expensive on Wednesday and it increased to ₹ 1,12,500 per kg (including all taxes). It closed at ₹ 1,12,000 per kg on Tuesday.
What do experts say
The demand for safe investment was observed on Wednesday. Somil Gandhi, Commodity analyst of HDFC Securities, said that gold prices rose slightly on Wednesday, as there is a demand for safe investment of investors amidst globally instability. The statements of US President Donald Trump were also influenced by this boom in gold. On Tuesday, Trump threatened to impose new tariffs on pharmaceutical imports. He said that these tariffs will be low in the beginning but can gradually increase to 250%.
At the same time, Trump also indicated the announcement of upcoming tariffs on semiconductor and chips, leading to the market volatility and investors bent towards gold. Gandhi said that this uncertainty associated with tariff is adding ‘risk premium’ to precious metals. Spot Gold fell at $ 17.51 or 0.52% to $ 3,363.35 an ounce in New York. Spot silver fell 0.12% to $ 37.76 an ounce.
Investors are eyeing Federal Reserve
VP Research Jatin Trivedi, VP of LKP Securities, said that the dollar was under pressure in the international market due to strength in the index in recent times. Federal Reserve’s eye
Analysts say that now the market is eyeing the speeches of Federal Reserve officials, which will determine the front direction of gold and silver prices. Chintan Mehta, CEO of Absse Financial Services, said that trade tension is increasing. If there is no agreement between the US and Europe, Trump can impose a tariff of up to 35%. This will increase inflation, which can take gold prices up further.
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