The national capital recorded a faster of gold prices on Friday and a faster of ₹ 800, causing this new record height to reach ₹ 1,03,420 per 10 grams. According to the All India Bullion Association, this fast has come mainly due to strong demand from wholesale buyers. According to PTI news, gold prices had gained ₹ 3,600 on Thursday and it closed at ₹ 1,02,620 per 10 grams. So far, gold has become expensive ₹ 5,800 per 10 grams in only the last five trading sessions. The price of gold with 99.9% purity was ₹ 1,03,420 on Friday. At the same time, gold with 99.5% purity rose to ₹ 800 to ₹ 1,03,000 per 10 grams (including all taxes), which crossed the previous record of ₹ 1,02,200 on Thursday.
Demand for safe investment in gold increased
According to Chintan Mehta, CEO of Abans Financial Services, global supply has been affected by American tariffs, increasing demand for safe investment in gold. He says that the decision to impose 39% tariffs on gold rods imported from Switzerland has caused a big stir in the market. This has disrupted a major global supply route, returning to gold. Switzerland is one of the world’s largest gold refinement centers. The tax exemption has been abolished with this new policy, which has accelerated the “safe haven” demand.
Silver is also at record high, ₹ 1,15,000 per kg
Along with gold, silver prices have also rose by ₹ 1,000 and reached ₹ 1,15,000 per kg (including all taxes) on Friday. Silver prices have registered an increase of ₹ 5,500 per kg in the last five trading sessions.
Global economic uncertainty and gold support from American policies
Senior analyst of HDFC Securities Soumil Gandhi said that due to the new tariff imposed by the Trump administration and weak economic signs in the US, investors hope that the Federal Reserve will soon cut interest rates. This is providing support for gold. Here, the October delivery gold rose by ₹ 782 to ₹ 1,02,250 per 10 grams on MCX. At the same time, the December delivery contract closed ₹ 849 to ₹ 1,03,195 per 10 grams.
Prices can remain fluctuating
Jatin Trivedi, VP of LKP Securities, says there is no concrete progress in the Indo-US trade agreement, and Trump’s tariff policy has further increased the market volatility. Due to this, prices can continue to fluctuate. On the other hand, international markets also saw a boom. Gold crossed $ 3,500 an ounce. Spot Gold in New York reached a new record of $ 3,500.33 an ounce. Spot silver is also trading at $ 38.28 an ounce.
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