New Delhi: The global uncertainties and a weakening dollar has led to the rise in prices of Gold and Silver in the domestic futures market. On the morning of February 27, both the yellow metal and white metal rose on MCX, supported by spot demand and rising geopolitical tensions.
On MCX, Gold for April delivery increased by about Rs 500, reaching Rs 1,60,177 per 10 grams. Meanwhile, silver for the March contract rose by more than Rs 8,000, to Rs 2,66,800 per kilogram.
Gold Price Outlook
Kedia Advisory said that Gold held its position near $5,190 on trade uncertainty on Friday. The financial advisory firm projected that the yellow metal was on track for fourth consecutive weekly gain.
Gold firmed near $5,190 per ounce on Friday, extending a two-day advance and heading for a fourth straight weekly rise as markets assessed US trade and geopolitical risks. President Donald Trump implemented new 10% global tariffs, with scope to increase to 15% after a Supreme Court ruling. The Federal Reserve remains in focus, as June rate cut odds declined to 50% and expectations for a third reduction this year largely faded. Meanwhile, US-Iran negotiations are set to resume next week despite reported diplomatic disappointment, Kedia Advisory stated in its report on Gold today.
Silver Market Analysis
Silver advanced nearly 2% toward $90 per ounce today. It further mentioned that the white metal was on track for a second straight weekly gain.
Silver climbed nearly 2% toward $90 per ounce on Friday, positioning for a second consecutive weekly gain amid heightened trade and geopolitical uncertainty. The US Supreme Court invalidated Donald Trump’s broad reciprocal tariffs, prompting the administration to introduce a new 10% global tariff that could increase to 15% for certain countries. This shift raised concerns over the stability of existing US trade agreements.
Commenting on the Silver price outlook, the firm stated gains in precious metals may remain capped as Federal Reserve officials adopt a hawkish tone, supported by strong US economic data reinforcing expectations of a prolonged rate hold. Meanwhile, the US and Iran agreed to continue nuclear negotiations next week after progress in Geneva.
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