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Hans India
15 hours ago
- Business
- Hans India
Silver hits record Rs 1.15 lakh per kg, gold crosses Rs 1 lakh mark again
New Delhi: Gold and silver prices surged sharply on Wednesday, with both precious metals scaling new heights in the domestic market amid mixed global cues. While 24-carat gold breached the Rs 1 lakh mark per 10 grams again, silver touched a new all-time high of over Rs 1.15 lakh per kg. The price of 24-carat gold increased by Rs 1,025, from Rs 99,508 on Tuesday to Rs 1,00,533 per 10 grams, according to data published by the India Bullion and Jewellers Association (IBJA). The price of 22-carat gold also saw a notable rise, climbing to Rs 92,088 per 10 grams from Rs 91,149. Similarly, the price of 10 grams of 18-carat gold increased from Rs 74,631 to Rs 75,400. The price of silver increased by Rs 1,357, from Rs 1,14,493 a day earlier to Rs 1,15,850 per kg. Silver has increased by more than 34 per cent since January 1 this year, when it was priced at Rs 86,055 per kg. Meanwhile, in the futures market, gold and silver continued their upward trend. On the Multi Commodity Exchange (MCX), the gold contract for August 5 was trading 0.17 per cent higher at Rs 1,00,500. The silver contract for September 5 rose 0.58 per cent to Rs 1,16,323. Globally, however, trends were mixed. On COMEX, gold prices dipped slightly by 0.08 per cent to $3,441.10 an ounce, while silver rose 0.52 per cent to $39.76 an ounce. Experts noted that domestic gold prices remained range-bound near record levels, influenced by steady international gold rates and a stable rupee. Silver, on the other hand, continued its strong upward momentum both domestically and internationally. "Gold prices remained range-bound near higher levels, with MCX trading close to Rs 1,03,500, taking cues from COMEX gold, which held steady around $3,424. The rupee also stayed flat, limiting volatility in domestic gold prices," said Jateen Trivedi of LKP Securities. Investors now await key economic cues from upcoming US Manufacturing and Services PMI data. In the short term, gold is expected to trade within a range of Rs 99,000–Rs 1,01,500 on MCX, Trivedi said.
India.com
16-07-2025
- Business
- India.com
Gold And Silver Prices Decline For 2nd Consecutive Day
New Delhi: Both gold and silver saw a drop during Wednesday's trading session, continuing their downward trend for the second consecutive day this week amid looming uncertainty around the US tariffs. The price of 24-carat gold dropped by Rs 416, from Rs 97,916 to Rs 97,500 per 10 grams, according to the India Bullion and Jewellers Association (IBJA). Similarly, the price of 22-carat gold decreased by Rs 381 from Tuesday's price of Rs 89,691 to Rs 89,310 per 10 grams. Additionally, the price of 18-carat gold dropped, from Rs 73,437 per 10 grams in the previous session to Rs 73,125 per 10 grams. Following the trend, the price of silver dropped from Rs 1,11,997 per kilogram to Rs 1,11,200, a decrease of Rs 797. In the week ahead, key U.S. data, including PPI and jobless claims, will guide further movement, according to analysts. The futures market, meanwhile, is moving upward. Both gold and silver displayed a positive trend in the futures market, despite the drop in spot prices. Gold for delivery on August 5, 2025, was trading at Rs 97,415 on the Multi Commodity Exchange (MCX), up 0.21 per cent. At Rs 1,11,805, silver futures for delivery on September 5, 2025, were up 0.29 per cent. The price of gold and silver increased slightly on the global stage. Silver increased by 0.34 per cent to $38.24 per ounce on the Comex exchange, while gold increased by about 0.27 per cent to $3,345.60 per ounce. "Gold is caught in a consolidation, with prices remaining rangebound between $3,300 and $3,500 per ounce. The market is missing an imminent trigger to restart the recent rally, despite a broad-based agreement on a favourable fundamental backdrop," said Julius Baer, Head of Economics at Carsten Menke. 'Central bank buying is still sound but not as strong as earlier in the year. We still see a longer-term favourable fundamental backdrop. Silver, meanwhile, broke out, first and foremost reflecting renewed investor interest. Its catch-up potential to gold seems to be very much exhausted. We lift our price targets but downgrade our view to Neutral,' Baer said.
Hans India
13-07-2025
- Business
- Hans India
Gold, silver prices surge this week; silver crosses Rs 1.10 lakh per kg
New Delhi: Both gold and silver prices saw a sharp rise this week, with gold gaining over Rs 400 and silver surging by more than Rs 2,700 per kilogram. According to the India Bullion and Jewellers Association (IBJA), the price of 24-carat gold climbed to Rs 97,511 per 10 grams, up from Rs 97,021 a week ago -- a gain of Rs 490. In the previous week, gold had already seen an increase of Rs 1,237 per 10 grams. The price of 22-carat gold rose to Rs 89,320 per 10 grams, up from Rs 88,871. Meanwhile, 18-carat gold went up from Rs 72,766 to Rs 73,133 per 10 grams during the same period. Silver also saw a steep rise, gaining Rs 2,710 to reach Rs 1,10,290 per kilogram, up from Rs 1,07,580 last week. This marks the first time silver has closed above Rs 1.10 lakh per kg on a weekly basis, with prices hovering near record highs. The recent surge in precious metals is being attributed to global uncertainty. The announcement by US President Donald Trump regarding tariffs on key trade partners like Canada, Europe, and other countries has contributed to the rising tension in global markets. Gold and silver are traditionally seen as safe-haven assets during times of geopolitical and economic instability. When demand rises amid limited supply, prices tend to increase. Since January 1 this year, the price of 24-carat gold has jumped by Rs 21,349 or 28.03 per cent, rising from Rs 76,162 to Rs 97,511 per 10 grams. Similarly, silver has gone up by Rs 24,273 or 28.21 per cent, from Rs 86,017 to Rs 1,10,290 per kilogram. This is now the highest price silver has ever reached. The previous record was Rs 1,09,550 per kg, which was set on June 18 this year. The rise in both gold and silver is being seen as a response to growing global uncertainty.
Hans India
11-07-2025
- Business
- Hans India
Silver prices touch all-time high as gold rises too
New Delhi: Silver priced reached an all-time high on Friday as gold picked up an upward trajectory too, breaking a losing streak. The precious metal prices witnessed a significant uptick amid fresh tariff jitters with Canada and Brazil by the US administration. Silver prices surged significantly, hitting a new all-time high. As compared to the previous day's price, silver gained Rs 2,356 to reach Rs 1,10,290 per kg -- up from Rs 1,07,934 per kg. The previous record high was Rs 1,09,550 per kg, registered on June 18 this year. Apurva Sheth, Head of Market Perspectives and Research, SAMCO Securities, said Silver is poised for a sharp rally and it didn't disappoint. 'Now Silver is also forming a cup and handle on the intraday charts. Silver is already in short fall. If US or other nations were to announce similar tariffs on silver or even worse ban exports like China has done in case of rare earth mineral then it could send silver prices to stratospheric levels,' Sheth noted. Now it is not a question of should you own silver or not. It is about how much do you own, she added. According to the India Bullion and Jewellers Association (IBJA) data, the 24-carat gold price rose by Rs 465 to Rs 97,511 per 10 grams, compared to Rs 97,046 per 10 grams on Thursday. The 22-carat gold price climbed to Rs 89,320 per 10 grams as compared to the previous day's price of Rs 88,894, while 18-carat gold rose to Rs 73,133 per 10 grams, up from Rs 72,785, the previous day's price. "Gold prices stayed strong as renewed trade tariff jitters supported bullion, with the U.S. imposing fresh tariffs on Canada and Brazil, markets have begun pricing in the adverse implications of renewed trade tensions," said Jateen Trivedi, VP Research Analyst at LKP Securities. "The resulting uncertainty has once again turned sentiment in favour of gold, especially after recent price corrections due to Middle East de-escalation," Trivedi added. The rally in precious metals - both gold and silver - is in line with international trends. Gold was trading 1.01 per cent higher at $3,358 per ounce, while silver was up 2.92 per cent at $38.40 per ounce. Meanwhile, at around 5:44 pm, the future contract expiring on August 5 was trading at Rs 97,582 per 10 gram, up Rs 891 against the previous closing of 96,691.
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India.com
09-07-2025
- Business
- India.com
Gold Prices Fall Significantly As Investors Await More Clarity On US Trade Deals
New Delhi: Gold prices continued the downward trend on Wednesday as they fell more than Rs 850 amid ease in demand as investors awaited more clarity on US trade deals. Silver prices dropped marginally too. The 24-carat (999 purity) gold closed at Rs 96,085 per 10 grams, down Rs 887 as compared to the last day's closing price of Rs 96,972, the India Bullion and Jewellers Association (IBJA) latest data showed. As per the data, silver was priced at Rs 107,280 per kg, down Rs 220 as compared to Rs 107,750, the last day's price. Gold prices have been hovering around Rs 95,000 and Rs 96,500 amid geopolitical uncertainties. "Gold is expected to remain volatile with a trading range seen between Rs 95,000 and Rs 96,500," said Jateen Trivedi, VP Research Analyst-Commodity and Currency, LKP Securities. Meanwhile, the MCX gold also followed suit with the future contract expiring on August 5. It fell Rs 572 or 0.59 per cent to 95,900.0 per 10 grams as compared to Rs 96,472, the previous day's closing price. At the same time, the yellow metal prices dipped in the international market as well. Comex gold fell settled at 3,294.0 per ounce, down 0.69 per cent or $22.90. "Gold traded weak by another Rs 400 to hover near Rs 96,000 as Comex gold slipped below Rs 3,300, pressuring global sentiment. While MCX gold received limited support from a weaker rupee, the broader trend remains bearish as the US," Trivedi said. US President Donald Trump's recent approach toward tariffs is sending a negative signal to investors and traders. Amid ongoing negotiations with various countries, the president announced a 50 per cent tariff on copper and 25 per cent to 40 per cent tariff on goods from 14 countries, including Japan and South Korea. Meanwhile, the Indian stock markets closed lower after a volatile session on Wednesday amid selling in the IT and metals stocks. Sensex settled at 83,536.08 and Nifty fell 46.40 points or 0.18 per cent to end the session at 25,476.10.
