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
News18
32 minutes ago
- News18
Starlink Price In India: Elon Musk May Launch Satcom Plans At Rs 3,000-4,200 Per Month, Says Report
Last Updated: Elon Musk's Starlink might commence operations in India within the next two months after receiving its licence last week. Even as Elon Musk-owned Starlink has received a licence for satellite communication (satcom) services in India, speculations are rife about its prices in the country. According to the latest report by Business Standard citing sources, Starlink is expected to launch its services at monthly subscription charges between Rs 3,000 and Rs 4,200. Its kit, which includes a satellite dish and a Wi-Fi router, is also likely to be at about Rs 33,000. This is in contrast with the recent reports that indicated that Starlink is expected to debut in India with promotional unlimited data plans priced below $10 per month – nearly Rs 850. Earlier estimates had suggested Rs 3,000-Rs 7,000 per month. These are the speculations, and the exact official prices are yet to be known. According to the BS report, Starlink has so far prices its services at two-three times of traditional telcos in both high-income countries like the US and developing markets like Kenya or Nigeria. 'The company doesn't have much gain by dropping the price to attract more customers as internet capacity from satellite will remain capped," the report said citing people in the know. High-Speed Internet for Remote India Starlink operates a constellation of low Earth orbit (LEO) satellites positioned just 550 km above the Earth – significantly closer than traditional geostationary satellites – enabling faster, low-latency internet access. The system has already been deployed in over 70 countries and aims to expand to the most remote and disaster-prone regions globally. SpaceX has already deployed approximately 7,000 LEO satellites globally and aims to increase this to over 40,000, enabling internet access even in the most remote and challenging terrains – from conflict zones to disaster-stricken areas. When Will Starlink Satellite Communication Services Start in India? Elon Musk-owned Starlink has received a licence for satellite communication (satcom) services in India. It comes after the government last month had issued a letter of intent (LoI) to the entity. Before launching its services, Starlink still needs approval from the Indian National Space Promotion and Authorisation Centre (IN-SPACe) and must be allocated spectrum by the government. According to a PTI report, Starlink will be granted trial spectrum within about two weeks. According to an ANI report citing sources, Starlink is preparing to commence operations in India within the next two months after receiving its licence last week. Starlink's hardware will be available at retail outlets of telecom operators Bharti Airtel and Reliance Jio. In April, Starlink signed pacts with Reliance Jio and Bharti Airtel, which together control more than 70 per cent of the country's telecom market, to bring the US satellite internet giant's services to India. Starlink has become the third company to secure a satcom licence from the Department of Telecommunications (DoT), after Eutelsat's OneWeb and Reliance Jio.
India Today
35 minutes ago
- India Today
He wants to speak to me: Donald Trump on plans to speak to Musk on phone
US President Donald Trump has said he has no immediate plans to speak with tech mogul Elon Musk, amid their escalating feud over the Republican-backed tax and spending bill. However, Trump also hinted he was open to a conversation, telling reporters, "If I were him, I would want to speak to me".Asked whether a phone call with the Tesla and SpaceX chief was on the horizon, Trump responded, "Umm I haven't really thought about it actually. I would imagine he wants to speak to me. Maybe he's already called. You'd have to ask him. Ask him if he's already called. But I'd have no problems with it".advertisementThe latest comments come after a dramatic fallout between Trump and Musk, once considered allies, following Musk's vocal opposition to a Republican tax-cut package championed by the White House. Though Musk hasn't directly addressed Trump in recent days, he has continued to slam the legislation, which included key components of Trump's domestic economic agenda. The rift became public last week when Musk, who had informally advised Trump during his first term, criticised what the president called the "Big, Beautiful Bill". Trump had initially remained silent, but later told reporters aboard Air Force One that he was "very disappointed" in the billionaire a sharp escalation, Musk declared that Trump would have lost the last election without his backing and even floated the idea of impeachment. The tech mogul, who reportedly spent nearly USD 300 million on Trump's 2024 presidential campaign, had previously vowed to reduce his political donations and called for the ouster of lawmakers who "betrayed the American people".advertisementIn response, Trump suggested his administration could sever government ties with Musk's companies, including lucrative contracts involving SpaceX and its satellite internet wing, the height of the standoff, Musk even threatened to withdraw SpaceX's Dragon spacecraft from NASA missions to the International Space Station, a move that would jeopardize the US space program. He later walked back the strained relationship threatens to ripple through Republican circles ahead of the crucial midterm elections next year. With Musk hinting at pulling financial support and other Silicon Valley donors watching closely, the Republicans risk losing a critical source of influence and InMust Watch
News18
38 minutes ago
- News18
Reliance Power Soars 11%, Up 174% In A Year – Will The Rally Sustain?
Last Updated: Reliance Power Share Price: Shares of Reliance Power surged on Tuesday, hitting a fresh 10-year high RPower Share Price: Shares of Reliance Power surged on Tuesday, hitting a fresh 10-year high of Rs 71.35, as they rallied 11 per cent on the BSE in intra-day trade amid heavy volumes. At this price, the stock has soared nearly 68 per cent so far in 2025 and 174 per cent over the past year. In June alone, it has gained more than 20 per cent following a 45 per cent surge in May. The recent momentum in this power stock has been driven by its robust Q4 earnings and a positive outlook. For the March 2025 quarter (Q4FY25), Reliance Power reported a consolidated profit of Rs 125.57 crore, reversing a loss of Rs 397.56 crore in the same period last year (Q4FY24). However, consolidated revenue from operations dipped slightly by nearly 1 per cent to Rs 1,978.01 crore from Rs 1,996.65 crore a year earlier. Meanwhile, Reliance Power's subsidiary, Reliance NU Energies Private Limited, on May 28 received a letter of award (LOA) from SJVN Limited—a Navratna Central Public Sector Enterprise—for a 350 MW inter-state transmission system (ISTS)-connected solar power project, along with a 175 MW/700 MWh battery energy storage system (BESS). Reliance Power growth opportunities According to the National Electricity Plan, India plans to add around 80 gigawatts (GW) of new coal-based thermal power capacity by 2031–32 to meet growing electricity demand. In its FY24 annual report, Reliance Power highlighted that this renewed focus presents growth prospects for thermal power players. Rising electrification, higher per-capita power consumption, and the adoption of electric vehicles (EVs) are expected to drive demand. India also aims to achieve 500 GW of non-fossil capacity by 2030 as part of its energy transition. 'In the near term, prices may continue to rise, but given the overbought conditions, buying on dips would be ideal. Rs 56-57 appears to be strong support, while Rs 72 is seen as resistance," Bhosale said. Further, Riyank Arora, Technical Analyst at Mehta Equities, observed that Reliance Power share price is showing signs of profit-booking after the recent rally, with major resistance at Rs 65. 'Reliance Power has seen a significant run-up, and the current pause suggests a short-term consolidation or mild correction. If it fails to break above Rs 65, we may see selling pressure pushing it back towards the Rs 58–59 support zone. While momentum remains positive, traders should be cautious near resistance. Fresh entry is only recommended on a decisive breakout above Rs 65 with strong volume," Arora explained. Disclaimer:Disclaimer: The views and investment tips by experts in this report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.
