- Gold traded flat at Rs 96,790 per 10 gm as safe haven demand eased
- Silver rose slightly to Rs 1,08,240 per kg on Thursday
- Gold futures for August 5 traded lower at Rs 96,439 on Multi Commodity Exchange
Gold and silver were trading flat on Wednesday as the safe haven demand for the metal slipped lower. US President Donald Trump imposed a fresh round of tariffs on seven countries on Wednesday, in addition to the earlier levies.
Among the seven countries with fresh tariffs are Sri Lanka, Philippines, Brunei, Moldova, Algeria, Iraq and Libya. While Sri Lanka, Algeria, Iraq and Libya will face 30% tariffs from Aug. 1, Philippines will face 20% tariffs. Brunei and Moldova will both get 25% tariffs.
Gold was trading at Rs 96,790 per 10 gm, as per the India Bullion Association, which was the same levels as Wednesday. In the last six months, the highest price that the yellow metal had soared to was Rs 1,00,470 on June 15. Price of the commodity has gone as low as Rs 95,780 on June 28.
In New Delhi, the price stood at Rs 96,440 per 10 gm compared to Rs 96,450 per 10 gm on Wednesday. Gold price in Mumbai was Rs 96,610 per 10 gm, against Rs 96,610 per 10 gm.
In Kolkata, the rate was Rs 96,480 per 10 gm, while in Bengaluru the rate stood at Rs 96,690. The price of the precious commodity was the highest in Chennai, trading at Rs 96,890 per 10 gm.
Aug. 5 futures for the yellow metal was lower as it was trading at Rs 96,439, according to the Multi Commodity Exchange.
Silver Price
Silver rose marginally on Thursday, standing at Rs 1,08,240 per kg, compared to Rs 1,07,350 per kg on Wednesday. Sept. 5 futures for the commodity saw a 0.03% rise to stand at Rs 1,07,232 per kg.
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