Due to a huge increase in American tariffs and the fall in the rupee against the US dollar, the prices of gold are constantly increasing. Investors are constantly looking for safe haven. Due to which the prices of gold have seen a boom for the 7th consecutive day. The special thing is that in these 7 days, the price of gold has been seen by Rs 5,900. Surprisingly, in the current year, the price of gold is getting more than 34 percent. Due to which the price of gold has been more than Rs 1.06 lakh and has reached the new record level. On the other hand, there has been a slight increase in silver prices.
On the other hand, the price of gold is also seen in the futures market and foreign markets of the country. The special thing is that the prices of silver continue as fast. Gold prices are expected to reach 1.08 to 1.12 lakh rupees by Diwali. On the other hand, the growing dispute between Fed and Trump Administration and 200 percent tariff in the pharma sector has also boosted gold prices. Let us also tell you how much gold and silver prices have increased in the country’s capital Delhi and foreign markets and futures markets.
Gold and silver again made records in Delhi
According to the All India Bullion Association, the price of gold in the country’s capital Delhi on Tuesday was strong in the seventh consecutive trading session and reached a new highest level of Rs 1,06,070 per 10 grams. Gold with 99.9 per cent purity closed at Rs 1,05,670 per 10 grams on Monday. The price of gold with 99.5 per cent purity also reached a new record of Rs 400 to Rs 1,05,200 per 10 grams (including all taxes) on Tuesday.
In the last market session, it closed at Rs 1,04,800 per 10 grams. Meanwhile, silver prices rose by Rs 100 to Rs 1,26,100 per kg (including all taxes) (including all taxes) on Tuesday. According to the bullion association, the white metal closed at Rs 1,26,000 per kg on Monday.
How expensive gold became in 7 days
For the last 7 days, the prices of gold and silver are constantly increasing in the country’s capital Delhi. In the last seven sessions, the price of this yellow metal has increased by Rs 5,900 per 10 grams. Gold prices have increased by 34.35 percent in the current calendar year, which was Rs 78,950 per 10 grams on December 31, 2024. In the last three sessions, white metal prices have rose by Rs 7,100 per kg. So far this year, silver has performed better than gold. In the end of December 2024, this white metal has jumped 40.58 percent from the level of Rs 89,700 per kg.
Gold and silver in foreign markets
If we talk about foreign markets, then the price of gold in New York in the international market fell from its all -time high level to $ 3,477.41 an ounce. During intraday, the yellow metal reached a high level of $ 3,508.54 an ounce. The special thing is that the prices of Gold Future are seeing an increase of around $ 31. After which the price has come at $ 3,546.70 per onon. On the other hand, the spot silver fell 1.08 percent to $ 40.29 an ounce.
While the silver future is seeing an increase of about one and a half percent and the price has come to $ 41.33 per on. Analysts explained the sudden profits by short -term investors due to the drastically fall in silver spot prices. By the way, the price of silver has reached beyond $ 40 an ounce for the first time since 2011. On Monday, the spot price reached $ 41.24 an ounce. Then closed around $ 39.71 an ounce.
Why did gold and silver rise?
Research head Renisha Chanani at Agamont said that gold prices reached a record high on Tuesday after an US appeal court upheld the White House’s so -called mutual charges illegal. The court said that the fees could remain in force until mid -October, however, President Donald Trump criticized the decision and said that he would challenge the decision in the Supreme Court.
According to commodity market experts, this development has increased uncertainty about the economic impact of the US tariff, most of which came into force in August. Any decision against Tariff will also force Washington to interact on recent agreements with major business partners.
Traders said that the falling price of the rupee and increasing geopolitical stresses have made the bullion more attractive as a safe investment. On Tuesday, the rupee fell 8 paise against the US dollar at 88.18 lifetime at the lower level, as the uncertainty of the Indo-US trade agreement and the weak domestic stock markets pressurized the local unit.
Why will gold be stronger?
Deveya Gaglani, Senior Research Analyst (Commodities) of Axis Securities, said that the concerns of the autonomy of the US Federal Reserve, the rising expectations of interest rate cuts and tariff uncertainty, reached a record high level of gold prices, which increased a record high level of $ 3,508 per ounce, which increased the demand for safe investment.
Chintan Mehta, CEO of Absse Financial Services, said that with signs of strong relations between India, Russia and China, Jio politics also remains in the center, which can have an impact and dollar impact, which can promote bullion prices. Mehta further said that investors are now waiting for the upcoming American comprehensive economic data including employment opportunities, ADP employment and non-agricultural pay for new signals of the Federal Reserve’s Monetary Policy.