Domestic gold prices gained on Tuesday to trade at Rs 96,320 as of 7:07 a.m., according to the India Bullion Association.
Rates in New Delhi were hovering around Rs 95,980 per 10 grams, according to the association. The price in Mumbai was marginally higher at Rs 96,150. In Kolkata, the rate rose to Rs 96,020. While in Bengaluru, it was at Rs 96,220. With the price at Rs 96,430, Chennai continued to see the highest rate in the country.
The futures prices for the yellow metal on the Multi Commodity Exchange were trading 1.12% higher at Rs 96,060 for the June 5 futures.
Gold prices crossed the $3,000-an-ounce mark for the first time ever on March 14. Since then, the yellow metal has pulled back from record highs, extending losses as bullish sentiment cooled after the glistening rally.
Still, according to Bloomberg data, gold remains up 25% this year, outperforming nearly every other major asset class this month, driven by a surge in demand for safe-haven assets amid US President Donald Trump's aggressive trade policies and escalating fears over the global economy.
Gold Rates Today
Global spot gold prices fell 0.32% on Tuesday to trade at $3,333.39.
Gold edged lower ahead of a slew of key economic data from the US this week that could shed light on the fallout from President Donald Trump's trade war. Traders are still weighing the outlook for the global economy amid rising uncertainty from the fast-evolving United States-led trade tensions, which have fuelled strong haven demand and powered gold's record-breaking rally in recent months.
Silver Prices Today
Silver prices were at Rs 97,090 on Tuesday, after crossing the Rs 1 lakh mark multiple times in the past couple of months, according to the India Bullion Association. Strong industrial demand for silver, fuelled by its importance in renewable energy technologies and electronics, has been driving the surge.
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