Gold and silver prices have once again gained momentum in the country’s capital Delhi. Where the price of gold has crossed Rs 1.60 lakh. On the other hand, an increase of Rs 8000 per kg has been seen in the prices of silver. According to experts, the way Trump’s tariffs have been abolished by the US Supreme Court. After that, the speed with which Trump has imposed a global tariff of 15 percent on the entire world. After that a lot of uncertainty has arisen. Apart from this, due to lack of consensus on the nuclear deal, tension between Iran and America has increased significantly. Due to which there has been a rise in the prices of gold and silver. Let us also tell you what the prices of gold and silver have become in the country’s capital Delhi.
Gold and silver became expensive in Delhi
According to All India Bullion Association, silver rose by Rs 8,000 or 3.03 per cent to Rs 2,72,000 per kg (including all taxes) from Friday’s closing level of Rs 2,64,000 per kg. On the other hand, gold with 99.9 percent purity also increased by Rs 3,300 or 2.06 percent to Rs 1,62,800 per 10 grams (including all taxes). In the last market session, it had closed at Rs 1,59,500 per 10 grams. Silver and gold continued to rise on Monday, with both metals trading at three-week highs, supported by fresh safe-haven demand.
Why did gold and silver increase?
Saumil Gandhi, senior analyst, commodities, HDFC Securities, said the rally came after a key US Supreme Court ruling against Trump’s tariffs, which led to sharp cross-asset volatility as investors sought safe-haven assets. In response to this decision, US President Donald Trump moved quickly to maintain his trade agenda by announcing on Saturday that he would increase the global tariff rate from 10 percent to 15 percent. Gandhi added that while the sudden policy shift has increased global uncertainty, many governments around the world are reacting cautiously — some ratifying the trade agreement, while others await Washington’s next steps.
Gold and silver prices in international market
In the international market, spot silver rose 1.79, or 2.2 percent, to USD 86.50 an ounce, while gold was up nearly 1 percent at USD 5,151 an ounce. Harish V, Commodity Research Head, Geojit Investments Limited, said that gold prices have increased amid uncertainty over Trump’s tariff dispute and their legal validity. Even if the Supreme Court finds the tariffs invalid, ongoing trade tensions could put pressure on the US dollar and provide support to bullion. He further said that apart from tariffs, factors like continued central bank buying, expectation of low interest rates in the US, ongoing geopolitical risks and slow global growth can support gold in the long run, due to which its overall outlook will remain constructive.