Gold, Silver Prices Stable in Mumbai, Chennai — Check Today's Rates
Gold was trading at Rs 98,840 per 10 gm on Friday according to India Bullion Association
Gold and silver prices were stable on Friday after the heightened uncertainties. The yellow metal was trading at Rs 98,840 per 10 gm, compared to Rs 99,060 on Thursday, as per the India Bullion Association. It had slipped from the Rs 1,00,820 mark earlier last week.
In the last six months, the highest price that the yellow metal had soared to was last week, Rs 1,00,820 on July 22. On the global front the record high was $3,500 on April 22. The price of the commodity went as low as Rs 87,100 on April 7.
During 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 the last week of July, the prices saw a steep climb followed by a plunge in rates. The volatility in prices was heightened as Trump's tariff deadline was approaching. On the domestic front, the market is eyeing any further negotiations on the US-India trade deal after the 25% tariff slapped on the country. This uncertainty is bringing in further safe-haven demand as investors watch out for developments.
In New Delhi, the price stood at Rs 98,490 per 10 gm, compared to Rs 98,710 on Thursday. While the gold price in Mumbai was Rs 98,660 per 10 gm, compared to Rs 98,880 on Thursday. In Bengaluru, the rate stood at Rs 98,740, while in Kolkata, it was Rs 98,530 per 10 gm.
The price of the precious commodity was the highest in Chennai, trading at Rs 98,950 per 10 gm.
In the United States, gold was trading at $3,298 an ounce, according to the World Gold Council. Aug. 5 futures for the yellow metal were trading marginally higher at Rs 98,778, according to the Multi Commodity Exchange.
Silver Price
Silver made new life time high during the previous week of Rs 1,16,641 and corrected sharply and closed at 1,13,052 levels.
Silver prices on Thursday was lower at Rs 1,10,310 per kg. Sept. 5 futures for the commodity saw a 0.02% advance to stand at Rs 1,09,998 per kg.
