Gold rate today: Gold surges Rs 820 per 10 grams on safe-haven demand; silver holds flat as traders await US inflation data
Gold rate today
:
Gold prices
surged by Rs 820 to Rs 98,490 per 10 grams in the national capital on Wednesday, driven by fresh retail and stockist demand amid firm global cues, according to the All India Sarafa Association.
The rise was supported by safe-haven buying as tariff-related concerns resurfaced globally.
The precious metal of 99.5 per cent purity also gained Rs 750 to close at Rs 98,000 per 10 grams inclusive of taxes, according to PTI.
Silver remained unchanged at Rs 1,07,100 per kilogram in local trade.
In the international market, spot gold climbed 0.36 per cent or $12.09 to $3,334.69 per ounce, buoyed by renewed concerns following a US federal appeals court decision that allowed President Donald Trump to continue imposing global tariffs.
'Gold edged higher... supported by safe-haven demand as traders expressed concerns about tariff-related uncertainty,' said Saumil Gandhi, Senior Analyst – Commodities at HDFC Securities.
Gandhi added that those concerns overshadowed optimism from the recent US-China trade discussions in London, where both nations agreed to a framework to reduce tensions.
On the geopolitical front, ongoing conflicts in Ukraine and the Middle East continued to drive investors toward gold as a hedge against volatility, market experts noted.
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Meanwhile, international spot silver prices dipped 0.5 per cent to $36.34 per ounce.
Kaynat Chainwala, AVP-Commodity Research at Kotak Securities, said market participants were now turning their attention to the upcoming US Consumer Price Index data, which could shape expectations for the Federal Reserve's interest rate path.
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