Gold rose by Rs 1910 to Rs 98450 per 10 grams, silver strengthened by Rs 1660

In the midst of high demand in the international market, gold appreciated 1,910 paise to touch Rs 98,450 for 10 grams in the national capital Delhi on Wednesday. The All India Sarafa Association has confirmed the same. On Tuesday, the 99.9 fineness yellow metal closed at Rs 96,540 for 10 grams

The 99.5 percent pure gold price increased by Rs 1,870 to Rs 98,000 for 10 grams (all taxes included) on Wednesday. It closed at Rs 96,130 for 10 grams in the last trading session.

The dollar weakness helped prices for gold, according to Chintan Mehta, Abans Financial Services Chief Executive Officer. Investors seek safe assets following the downgrading of the US rating by Moody's.

Meanwhile, the price of silver rose by Rs 1,660 to Rs 99,160 per kg (inclusive of all taxes) on Wednesday. It closed for the last time at Rs 97,500 per kg.

"Gold reached the level of $ 3,300 on Wednesday amid rising geopolitical tensions and US fiscal concerns," said Saumil Gandhi, Senior Research Analyst, Commodities at HDFC Securities. Meanwhile, Gandhi said, the ongoing uncertainty about tariff policies and President Donald Trump's tariff policy is the main reason for this. This is increasing panic among investors.

In the foreign market, spot gold rose by $ 21.79 or 0.66 percent to $ 3,311.76 an ounce. Kaynat Chainwala, AVP-Commodity Research, Kotak Securities, said that rising geopolitical tensions after reports of a possible Israeli attack on Iranian nuclear facilities boosted gold prices. Chainwala emphasized that traders will keep a close eye on the speeches of US Federal Reserve officials.