gold price
Trump has signed an additional 25 percent tariff against India. Due to which there has been a decline in the rupee against the dollar. This is the reason that gold prices have seen a rise from global market to Delhi. Trump’s extra tariff will be implemented from 12 noon. After which the total tariff on India will be 50 percent. In such a situation, India will be the biggest victim of Trump’s tariff. So far no country of the world has imposed 50 percent tariff. On Tuesday, India’s PM Narendra Modi has said to respond to the tariff. Also said that it will not see any effect on India’s economy. By the way, it is being estimated that due to this tariff, India’s American exports are likely to lose $ 48 billion. Let us also tell you how much gold prices have gone in Delhi, the capital of India?
Gold and silver prices increase
According to the All India Bullion Association, the price of gold in the country’s capital Delhi increased by Rs 600 to Rs 1,00,770 per 10 grams. The price of gold with 99.9 per cent purity was closed at Rs 1,00,170 per 10 grams on Monday. Gold with 99.5 per cent purity increased by Rs 500 to Rs 1,00,400 per 10 grams (including all taxes), which had last closed at Rs 99,900 per 10 grams. Silver prices rose by Rs 3,000 to Rs 1,18,000 per kg (including all taxes) on life time high. According to the Sarafa Association, the price of silver closed at Rs 1,15,000 per kg on Monday. Globally, gold in New York is trading at $ 3,378.37 an ounce in New York. However, the spot silver fell 0.21 percent to $ 38.48 an ounce.
What do you say?
Soumil Gandhi, Senior Analyst (Commodities) of HDFC Securities, said that after the decision of US President Donald Trump to remove Federal Reserve Governor Lisa Cook, the price of gold rose on Tuesday due to investors looking for traditional safe investment. This decision had raised concerns about the independence of the central bank. Gandhi further said that this move of President Trump has put an additional pressure on the leadership of the Federal Reserve to reduce the interest rates soon.