Gold Silver Prices Rise After Fresh Tariffs — Check Rates In Delhi, Mumbai, Chennai And Other Cities
The yellow metal was trading at Rs 101,360 per 10 gm.
Gold prices were higher along with silver on Thursday after US President Donald Trump imposed fresh tariffs adding up to 50% on India. The yellow metal was trading at Rs 101,360 per 10 gm. As per the India Bullion Association, the commodity was trading at Rs 1,01,430 per 10 gm on Wednesday.
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 soared to was Rs 100,82 on June 22. The price of the commodity went as low as Rs 87,100 on April 7.
Last week gold prices increased by 0.79% and closed at $3,362 levels. On MCX, prices closed higher by 1.98% and closed at 99,754 levels. There was a risk premium safe haven demand paired with political and economic uncertainty that supported the gold prices.
Gold Price In Delhi, Mumbai, Chennai
In New Delhi, the price stood at Rs 101,000 per 10 gm compared to Rs 101,070 per 10 gm on Wednesday. The gold price in Mumbai was Rs 101,180 per 10 gm, against Rs 101,250 per 10 gm the previous day.
In Bengaluru, the rate stood at Rs 101,260, while in Kolkata, it was Rs 101,040 per 10 gm. The price of the precious commodity was the highest in Chennai, trading at Rs 101,470 per 10 gm.
The gold spot price was trading lower at $3,374 an ounce, according to the World Gold Council. Aug. 5 futures for the yellow metal were trading 0.01% lower at Rs 1,01,250, according to the Multi Commodity Exchange.
Silver Prices
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.
The precious metal price was at Rs 1,14,050 per kilogram on the India Bullion Association. Aug. 5 futures for silver were trading 0.01% higher at Rs 1,13,671, according to the Multi Commodity Exchange.
