Gold, Silver Rates Surge—Check Prices in Mumbai, Chennai, Other Cities

Gold and silver surged on Monday after a drop on Friday. The yellow metal was trading at Rs 98,450 per 10 gm, as per the India Bullion Association, the commodity was trading at Rs 97, 890 per 10 gm on Friday. In the last six months, the highest price that the yellow metal had soared to was Rs 100,470 on June 15. The price of the commodity has gone as low as Rs 95,780 on June 28.

In the first week of July, the highest price that the commodity rose to was Rs 97,580 on July 7 on the back of Trump's rollout of fresh tariffs and safe haven demand. The prices had slipped to Rs 96,790 on July 9.

In New Delhi, the price stood at Rs 98,110 per 10 gm compared to Rs 97,550 per 10 gm on Friday. The gold price in Mumbai was Rs 98,280 per 10 gm, against Rs 97,770 per 10 gm the previous day.

In Bengaluru, the rate stood at Rs 98,350, while in Kolkata, it was Rs 98,150 per 10 gm. The price of the precious commodity was the highest in Chennai, trading at Rs 98,560 per 10 gm.

In the United States, gold was trading higher at $3,359.20 an ounce.

Aug. 5 futures for the yellow metal was trading 0.56% advance at Rs 98,015 according to the Multi Commodity Exchange.

Silver surged on Monday and was trading higher at Rs 113,160 per kg, compared to Rs 112,600 per kg on Friday. Sept. 5 futures for the commodity saw a 0.01% decline to stand at Rs 1,12,935 per kg.

It was trading higher at $38.50 in the United States on July 18.

On Monday, MCX Silver futures for Sept. 5 had hit a fresh record high of Rs 114,875 during trade. The silver futures for December have also hit a high of Rs 116,566, according to the Multi Commodity Exchange.