.jpeg)
Delhi Gold Price Hits ₹1.14 Lakh per 10 Grams; Silver at ₹1.32 Lakh/Kg
Gold Silver Price: Amid strong demand, gold prices rose by ₹800 to ₹1,14,000 per 10 grams on Friday. Silver also rose by ₹500 to ₹1,32,000 per kilogram (including all taxes).
Gold and silver prices increased with increasing geopolitical tensions and intensifying trade tensions between China and the US. Gold rates in the capital city of Delhi increased by ₹800 to ₹1,14,000 per 10 grams on Friday, with good international cues. Gold of purity 99.5 percent also increased by ₹700 to ₹1,13,500 per 10 grams. Prices of silver increased for the second day in a row, going up by ₹500 at ₹1,32,000 a kilogram (all taxes included). The All India Sarafa Association ratified this.
Saumil Gandhi, Senior Analyst (Commodities) at HDFC Securities, said that gold prices remained positive in the last trading session of the week, and the sentiment towards precious metals remained bullish. This optimism was driven by several factors, including strong inflows into exchange-traded funds this year and active gold purchases by central banks.
Meanwhile, expectations of additional interest rate cuts by the US Fed before the end of 2025, and ongoing geopolitical tensions and trade issues, have led to continued demand for safe-haven investments.
Traders said geopolitical uncertainties have boosted safe-haven demand for the yellow metal, while the debate over the Federal Reserve's independence has resurfaced. However, a strengthening dollar adversely affected the yellow metal and limited its gains.
Want to get your story featured as above? click here!
Want to get your story featured as above? click here!
Globally, spot gold rose 0.18 percent to $3,651.18 per ounce. Meanwhile, spot silver rose nearly 1 percent to $42.16 per ounce.
Jatin Trivedi, Vice President, Research Analyst (Commodity & Currency) at LKP Securities, said gold prices remained stable, and attention now shifted to next week's key US macroeconomic data, including GDP, manufacturing and services PMI, and the PCE price index, which will guide future trends.
Renisha Chainani, Head of Research at Augmont, said gold and silver prices came under pressure after the Federal Reserve cut interest rates this week, but signaled caution about the pace of future rate cuts amid continued inflation concerns.
The Fed resumed interest rate cuts on Wednesday and left the door open for additional policy easing, but its restrained guidance cast doubt on how soon further cuts would be made.
