On Monday, the price of gold and silver was again witnessed. The price of gold in the national capital increased by Rs 330 to Rs 98,930 per 10 grams. The yellow metal of 99.9 percent purity was closed at Rs 98,600 per 10 grams on Friday. According to the news of PTI, the All India Bullion Association said that today gold of 99.5 percent purity increased by Rs 300 to Rs 98,400 per 10 grams (including all taxes). In the last session, it closed at Rs 98,100 per 10 grams. With this, the price of silver rose by Rs 100 to Rs 1,00,100 per kg (including all tax) on Monday.
Why is there a boom in gold?
According to the news, at the global level, the spot gold increased by $ 59.21 an ounce or 1.80 percent to $ 3,348.61 an ounce. Chintan Mehta, Chief Executive Officer of Absan Financial Services, said that after the announcement of the plan to increase the tariff from 25 percent to 50 percent on steel and aluminum imports by President Donald Trump, gold prices have risen, which will be effective from day to time. Mehta said that on the geopolitical front, the growing geopolitical tension between Russia-Ukraine and conflicts in the Middle East has also increased gold prices.
What is the opinion of experts
Senior analyst at Commodities of HDFC Securities, Saumil Gandhi said that investor US May ISM Manufacturing Purchasing Managers and Index (PMI) will monitor the report, which is scheduled to be released later. According to the experts of the commodity market, traders are also waiting for the comment of Jerome Powell, president of the US Federal Reserve. He said Fed Chair Powell’s comment will play an important role in the outlook of future monetary policy and will affect the price dynamics and decide the next stage of directional move for prices.
Gold value placed as assets
The value of gold (including gold deposits) kept as the assets of the Reserve Bank) increased by 31 March, 2025 to 57. 12 percent to 4,31,624. It was Rs 8 crore. The value of gold kept as the asset of the banking department is 2,74,714 till March 31, 2024. It was Rs 27 crore.
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