Gold Edges Up, Silver Jumps Rs 1,300 to Hit Near 3-Week High

Gold prices in the national capital witnessed a marginal increase on Wednesday, driven by modest retail buying and jewellery demand, as per the All India Sarafa Association. The price of 99.9% pure gold rose by Rs 60 to Rs 88,850 per 10 grams, up from Rs 88,790 per 10 grams on Tuesday.

Silver prices also saw a significant surge, climbing Rs 1,300 to reach a nearly three-week high of Rs 1,00,200 per kg. This increase comes on the back of a previous close of Rs 98,900 per kg. Additionally, gold of 99.5% purity gained Rs 60 to Rs 88,450 per 10 grams.

In the international markets, spot gold traded flat at $2,915.73 per ounce.

"Gold prices remained flat as the US dollar weakened to a five-month low, weighed down by economic concerns and geopolitical uncertainty. The greenback struggled amid fears over US economic stability, fuelled by President Donald Trump's unpredictable trade policies," Abans Financial Services' Chief Executive Officer Chintan Mehta said.

Also, Comex futures for April delivery traded higher at $2,921.30 per ounce.

Meanwhile, silver spot prices in the Asian market hours quoted 0.25% higher at $33.03 per ounce.

(With inputs from PTI)