Gold rate today: Yellow metal climbs Rs 250 to Rs 98,670 per 10g in Delhi; silver steady at Rs 1.04 lakh/kg
: Gold prices in the national capital rose by Rs 250 on Thursday to settle at Rs 98,670 per 10 grams, driven by renewed interest from investors and stockists amid global economic uncertainties, according to the All India Sarafa Association.
This marks an uptick from Wednesday's closing rate of Rs 98,420 for gold of 99.9% purity. Meanwhile, gold of 99.5% purity rose by Rs 200 to Rs 98,200 per 10 grams, compared to Rs 98,000 in the previous session, PTI reported.
Silver, however, remained unchanged at Rs 1,04,000 per kilogram (inclusive of all taxes), data showed.
'Gold traded higher on Thursday, buoyed by renewed demand for safe-haven assets,' said Saumil Gandhi, Senior Analyst – Commodities at HDFC Securities.
'Ongoing uncertainties surrounding US President Donald Trump's trade policies and their potential impact on the global economy supported gold prices.'
In global markets, spot gold was marginally up at $3,324.40 per ounce.
The upward trend in gold prices was further supported by geopolitical signals, including President Trump's announcement of a 50% tariff on Brazilian goods starting August 1.
Adding to the bullish sentiment, minutes from the latest Federal Open Market Committee (FOMC) meeting indicated a cautious stance by US Federal Reserve officials.
by Taboola
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According to Chintan Mehta, CEO, Abans Financial Services, the Fed is expected to wait for more economic data before moving ahead with any rate cuts.
'At the same time, higher-than-expected crude oil inventories have kept energy prices in check, easing inflation concerns,' Mehta said. 'This combination of a patient Fed and cooling inflation supports the case for eventual interest rate cuts, which continues to favour gold by reducing the opportunity cost of holding non-yielding assets.'
With domestic and international factors both aligning in favour of gold, analysts expect investor interest in the yellow metal to remain strong in the near term.
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