Gold prices rose strongly on Tuesday in the national capital Delhi on the seventh consecutive trading day. After a gain of 10 grams of gold ₹ 400, the new record reached ₹ 1,06,070 per 10 grams. According to PTI news, the price of gold with 99.9% purity was ₹ 1,05,670 on Monday, which increased by ₹ 400 to ₹ 1,06,070 on Tuesday. Similarly, gold with 99.5% purity also increased by ₹ 400 to ₹ 1,05,200 per 10 grams (including all taxes), which was ₹ 1,04,800 on the previous day. According to the All India Bullion Association, the boom is mainly inspired by the growing demand of investors towards secure wealth due to the tariffs and rupee weakness of the US and the rupee.
Silver prices also set a new record
On Tuesday, silver prices rose by ₹ 100 and this new record reached ₹ 1,26,100 per kg (including all taxes). Silver closed at ₹ 1,26,000 per kg on Monday. Silver prices have increased by ₹ 7,100 per kg in the last three sessions. This year, silver has recorded a 40.58% increase than gold. It has gone above the level of ₹ 89,700 per kg at the end of December 2024.
Gold became expensive ₹ 5,900 per 10 grams in seven days
Gold prices have increased by ₹ 5,900 per 10 grams during the last seven business days. So far this year, gold prices have recorded a tremendous rise of about 34.35%, which was ₹ 78,950 per 10 grams on 31 December 2024. According to Ogent’s Research Head Renisha Chanani, this new boom in gold prices came after the US Appellate Court verdict, in which the ‘Pratipasi Tariffs’ of the White House was declared illegal. However, these tariffs will remain in force till mid -October. President Donald Trump is planning to challenge this decision in the Supreme Court.
Commodity market experts believe that this decision has increased uncertainty about the economic impact of American tariffs, leading to investors moving towards safe property. If there is a negative decision on tariffs, then the US may have to reconsider the recent major trade agreements.
Gold and silver situation in international market
Gold prices in the international market in New York came down slightly below their historic high level to USD at 3,477.41 an ounce. Gold reached a record level of USD 3,508.54 per ounce during intraday. Devaya Gaglani, senior research analyst at Axis Securities, said that doubt on the freedom of the US Federal Reserve, the rising expectations of interest rates and uncertainty to tariffs have promoted the demand for safe investment, leading to a rise in gold prices. At the same time, silver prices fell 1.08% to USD 40.29 an ounce. This decline is the result of investors’ profits to withdraw profits.
Riya Singh, a research analyst of MK Global Financial Services, says that silver has continued its record rally. On Monday, it reached USD 41.24 an ounce, which is the highest level since 2011. On Tuesday, it was trading at USD 40.85, which is the strongest situation in the last decade. “
Look at the next step: US economic figures
CEO Chintan Mehta of Absan Financial Services says that the current geopolitical scenario is also important. India, Russia and China may affect the increasing relations of American influence and dollar strengthening, which will further support the prices of precious metals. Investors are now monitoring the upcoming US economic data such as job opportunities, ADP employment reports and non-agricultural pay data, which can affect the decisions of the Federal Reserve’s monetary policy.
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