Gold Price Surges To New High — Check Rates In Delhi, Mumbai, Chennai And Other Cities

Gold prices surged to a fresh high on Friday after the safe-haven demand rose on the back of US President Donald Trump's tariffs doubling on India. The yellow metal was trading at Rs 1,01,790 per 10 gm. As per the India Bullion Association, the commodity was trading at Rs 101,360 per 10 gm on Thursday.

Gold has been seeing a steady climb for nearly the last six months, as traders heightened activity in the safe haven asset following the first announcement of tariffs by the US on other nations. In the last six months, the highest price that the yellow metal had previously climbed to was Rs 100,82 on June 22, before hitting a fresh high this week. The price of the commodity went as low as Rs 87,100 on April 7.

There was a risk premium safe haven demand paired with political and economic uncertainty that supported the shooting gains of gold prices.

In New Delhi, the price stood at Rs 101,430 per 10 gm compared to Rs 101,000 per 10 gm on Thursday. The gold price in Mumbai was Rs 101,610 per 10 gm, against Rs 101,180 per 10 gm the previous day.

In Bengaluru, the rate stood at Rs 101,690, while in Kolkata, it was Rs 101,470 per 10 gm. The price of the precious commodity was the highest in Chennai, trading at Rs 101,900 per 10 gm.

The gold spot price was higher at $3,383 an ounce, according to the World Gold Council. Aug. 5 futures for the yellow metal were trading 0.02% lower at Rs 1,01,446, according to the Multi Commodity Exchange.

The precious metal price was at Rs 115,600 per kilogram on the India Bullion Association. Aug. 5 futures for silver were trading 0.06% lower at Rs 1,14,215, according to the Multi Commodity Exchange.

Silver prices corrected by 2.95% and closed at $37.01 levels due to a correction in industrial metals after putting a 50% tariff on copper. On MCX silver prices corrected by 2.47% and closed at 110258 levels. Recently silver made a new high of 1,16,641 levels.