Gold surges Rs 950 to Rs 97,500/10 g amid firm global cues
New Delhi: Gold price rallied by Rs 950 to Rs 97,500 per 10 gram in the national capital on Tuesday amid firm trend in overseas markets, according to the All India Sarafa Association. The precious metal of 99.5 per cent purity jumped Rs 1,000 to Rs 97,100 per 10 gram.
On Monday, gold of 99.9 per cent and 99.5 per cent fell sharply by Rs 3,400 each to Rs 96,550 and Rs 96,100 per 10 grams, respectively.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Play War Thunder now for free
War Thunder
Play Now
Undo
Meanwhile, silver depreciated Rs 250 to Rs 99,450 per kg against the previous close of Rs 99,700 per kg.
Play Video
Pause
Skip Backward
Skip Forward
Unmute
Current Time
0:00
/
Duration
0:00
Loaded
:
0%
0:00
Stream Type
LIVE
Seek to live, currently behind live
LIVE
Remaining Time
-
0:00
1x
Playback Rate
Chapters
Chapters
Descriptions
descriptions off
, selected
Captions
captions settings
, opens captions settings dialog
captions off
, selected
Audio Track
default
, selected
Picture-in-Picture
Fullscreen
This is a modal window.
Beginning of dialog window. Escape will cancel and close the window.
Text
Color
White
Black
Red
Green
Blue
Yellow
Magenta
Cyan
Opacity
Opaque
Semi-Transparent
Text Background
Color
Black
White
Red
Green
Blue
Yellow
Magenta
Cyan
Opacity
Opaque
Semi-Transparent
Transparent
Caption Area Background
Color
Black
White
Red
Green
Blue
Yellow
Magenta
Cyan
Opacity
Transparent
Semi-Transparent
Opaque
Font Size
50%
75%
100%
125%
150%
175%
200%
300%
400%
Text Edge Style
None
Raised
Depressed
Uniform
Drop shadow
Font Family
Proportional Sans-Serif
Monospace Sans-Serif
Proportional Serif
Monospace Serif
Casual
Script
Small Caps
Reset
restore all settings to the default values
Done
Close Modal Dialog
End of dialog window.
"Gold prices have risen again after a sharp correction, as
safe-haven demand
eased following a pause in the
US-China trade war
,"
Abans Financial Services
' Chief Executive Officer Chintan Mehta said.
The US agreed to cut tariffs on Chinese imports to 30 per cent from 145 per cent, while China reduced duties on US goods to 10 per cent from 125 per cent.
Live Events
This tariff relief brought some calm to global markets, leading to a rally in equities and a pullback in gold over the past two days, Mehta added.
Globally, spot gold quoted higher at USD 3,253.38 per ounce.
"Gold fell over 3 per cent on Monday, lowest closing in nearly two weeks. However, the metal rebounded slightly on Tuesday, edging above USD 3,240 per ounce," Kaynat Chainwala, AVP of Commodity Research at Kotak Securities, said.
The safe-haven demand emerged amid reports of Israeli airstrikes on Houthi rebel positions in Yemen, she said.
Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities said market participants are closely awaiting the US Consumer Price Index (CPI) data later in the day.
The inflation print could influence the US Federal Reserve's interest rate outlook and, in turn, affect gold's trajectory, Trivedi added.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
17 minutes ago
- Economic Times
RBI buyback sees strong demand with bids doubling notified amount
The Reserve Bank of India (RBI) received bids Rs 53,031 crore against the notified amount of Rs 26,000 crore at the second buyback auction of this fiscal year. At the auction held on Thursday, the central bank accepted 99% of the notified amount. ADVERTISEMENT At the first buyback held last week, the RBI received bids worth Rs 27,256 crore, of which the central bank accepted Rs 23,856 crore or 95% of the notified amount, data showed. Buybacks are a way for the government to pay off debt for next fiscal year to reduce its gross borrowing. It also results in RBI infusing durable liquidity into the system. The RBI bought back five government bonds maturing in 2026 at Thursday's auction. The 5.63% 2026 government bond saw the highest demand with bids received at Rs 26,616 crore. Of this, the central bank accepted Rs17,402 crore. 'The strong demand at the buyback auction indicates that banks may have taken this opportunity to lighten their HTM book, especially because there are no OMOs on the horizon,' said Rajeev Pawar, head of treasury at Ujjivan Small Finance Bank. 'In a buyback, banks get to sell short-term bonds and replace them with longer maturity papers and lock-in yields. Further buyback auctions will depend on how the government spending pans out and on evolving liquidity conditions.' ADVERTISEMENT Bonds maturing in FY27 are more than double versus this year at Rs 6.48 lakh crore and are consistently high until 2032. The government has also budgeted Rs 2.5 lakh crore for bond switches this year, 60% more than the previous a bond switch, the government replaces bonds maturing in the near term with long-term debt. The RBI, on behalf of the government, is scheduled to conduct an auction on Monday to switch government securities worth Rs 25,000 crore. It will conduct the auction to switch nine government bonds maturing between 2026 and 2029 for papers with maturity between 2032 and 2062. ADVERTISEMENT (You can now subscribe to our ETMarkets WhatsApp channel)
&w=3840&q=100)
First Post
18 minutes ago
- First Post
'We remain steadfast in...': Tata Group announces Rs 1 crore compensation for families of Air India flight crash victims
'Tata Group will provide Rs 1 crore to the families of each person who has lost their life in this tragedy. We will also cover the medical expenses of those injured and ensure that they receive all necessary care and support,' the statement said read more Rescue team members work as smoke rises at the site where an Air India plane crashed in Ahmedabad, India, on June 12, 2025. Reuters In the wake of the tragic crash of Air India Flight AI-171, the Tata Group on Thursday expressed deep sorrow and announced Rs 1 crore in compensation to the families of each person who lost their life in the crash. 'We are deeply anguished by the tragic event involving Air India Flight 171. No words can adequately express the grief we feel at this moment. Our thoughts and prayers are with the families who have lost their loved ones, and with those who have been injured,' N Chandrasekaran, Chairman, Tata Sons, said in a statement. STORY CONTINUES BELOW THIS AD We are deeply anguished by the tragic event involving Air India Flight 171. No words can adequately express the grief we feel at this moment. Our thoughts and prayers are with the families who have lost their loved ones, and with those who have been injured. Tata Group will… — Tata Group (@TataCompanies) June 12, 2025 'Tata Group will provide Rs 1 crore to the families of each person who has lost their life in this tragedy. We will also cover the medical expenses of those injured and ensure that they receive all necessary care and support,' the statement added. The statement also said that the group will provide support in the building up of the B J Medical's hostel. 'We remain steadfast in standing with the affected families and communities during this unimaginable time,' the statement concluded. Air India flight AI-171, a Boeing 787 Dreamliner en route to London, crashed near Sardar Vallabhbhai Patel International Airport shortly after takeoff on Thursday, killing all 242 people on board. The aircraft was seen losing altitude rapidly before crashing in a fireball, sending thick black smoke spiraling into the sky. According to officials, the flight was carrying 169 Indian nationals, 53 British citizens, seven Portuguese nationals, and one Canadian passenger. The 12-member crew was also among those killed. STORY CONTINUES BELOW THIS AD Aviation regulator DGCA confirmed that the aircraft's pilot issued a Mayday call to Ahmedabad Air Traffic Control shortly after takeoff. However, no further communication was received from the cockpit after the distress signal. The flight was commanded by Captain Sumeet Sabharwal, a Line Training Captain (LTC) with 8,200 flight hours, along with First Officer Clive Kundar, who had 1,100 hours of flying experience. In response to the disaster, the Aircraft Accident Investigation Bureau (AAIB) has launched a formal investigation. Senior officials, including the AAIB Director General and Director of Investigation, are en route to Ahmedabad to lead the probe into what caused one of the deadliest aviation accidents in recent Indian history. With inputs from agencies
Time of India
19 minutes ago
- Time of India
PhonePe pares 5% stake in MapmyIndia for Rs 486 crore
Synopsis Following the stake sale, shares of CE Info Systems plunged 9.39% to settle at Rs 1,768.75 apiece on the BSE. The shares were sold at an average price of Rs 1,786.22 apiece, taking the transaction value to Rs 486.03 crore.
