Gold rate today: Gold falls Rs 500 to Rs 98,020/10g in Delhi; silver slips Rs 1,000 amid easing tariff fears
The data was released by the All India Sarafa Association.
On Saturday, gold of 99.9% purity had settled at Rs 98,520 per 10 grams, already down Rs 600 from the previous session. On Monday, gold of 99.5% purity dropped to Rs 97,750 per 10 grams (inclusive of all taxes) from Rs 98,520 on Saturday, PTI reported.
Silver prices also retreated sharply, declining by Rs 1,000 to Rs 1,13,000 per kilogram (inclusive of all taxes), from Rs 1,14,000 per kg in the previous session.
In global markets, spot gold and silver traded flat at $3,337.95 and $38.17 per ounce, respectively.
'Gold traded in a positive but flat range near $3,335 per ounce, as strength in the dollar index limited gains last week,' said Jateen Trivedi, VP Research Analyst, Commodity and Currency at LKP Securities.
The recent US-EU trade agreement, which includes a 15% tariff on most European goods entering the US alongside EU commitments to invest heavily in American industries, has contributed to the price pressure.
A similar agreement was signed with Japan last week.
'Bullion prices declined last week due to a drop in demand for safe-haven assets amid easing tariff concerns,' said Saumil Gandhi, Senior Analyst – Commodities, HDFC Securities, as quoted PTI.
Chintan Mehta, CEO of Abans Financial Services, added that market participants will be closely watching upcoming US macroeconomic data, including jobless claims and Q2 GDP figures.
President Donald Trump's recent reassurance on the independence of the US Federal Reserve and a softened stance toward Fed Chair Jerome Powell have further buoyed the US dollar, Gandhi noted.
'Both factors contributed to the rise in the US dollar, which has risen for the third consecutive day and is negatively impacting precious metal prices,' he said.
Stay informed with the latest
business
news, updates on
bank holidays
and
public holidays
.
AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hans India
3 minutes ago
- Hans India
PM-KISAN payout helps farmers buy diesel for tractors in State
New Delhi: As Prime Minister Narendra Modi released the 20th installment of the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme, farmers in Karnataka and Tamil Nadu on Saturday expressed gratitude, saying the scheme has significantly helped them buy diesel for tractors, and pay wages to labourers. The PM-KISAN scheme has been a crucial support for farmers during difficult times. In Karnataka's Dharwad district, farmers said that the PM-KISAN initiative is making a positive impact on their agricultural activities. The funds help not only in purchasing seeds and fertilisers but also in managing household expenses, including school and college fees for their children. The scheme, launched by the PM Modi government, aims to provide income support to small and marginal farmers across the country. Under PM-KISAN, eligible farmers receive Rs 6,000 annually in three equal installments directly into their bank accounts. Speaking to IANS, farmers shared how the scheme has improved their lives. Nagappa Ganiger, a farmer from Dharwad, said, 'The PM-KISAN scheme has been a great help during tough times. It has enabled me to buy diesel for tractors and pay wages to labourers on time. So far, 20 installments have been credited to my account without fail. I am thankful to Prime Minister Modi.' Another farmer, Basavaraj Gunjal, added, 'With the aim of doubling farmers' income, Prime Minister Modi has introduced several farmer-friendly initiatives. The Rs 6,000 annual support through PM-KISAN has been a real benefit. On behalf of all farmers, I express my sincere thanks to him.'
Time of India
3 minutes ago
- Time of India
Big Tech continues to hire in India even as local majors downsize
Academy Empower your mind, elevate your skills ETtech Indian IT services majors may be trimming their workforce, but for Big Tech, it's still hiring season in giants under the FAAMNG umbrella – Facebook parent Meta, Amazon, Apple, Microsoft, Netflix, and Google – have grown their India headcount across their own and their affiliate entities by 16% over the past 12 months, data from staffing firm Xpheno pace of growth is slightly higher than 15% in the 12 months to August saw over 28,000 net employee additions in the past one year. The current estimated collective headcount across their entities in India is over 208,000, according to hiring rate 'is relatively healthy, especially with the buzz of AI potentially impacting pace and volume of hiring,' said Kamal Karanth, cofounder of companies continue to post healthy hiring demand in the country, with active openings at 4,500 currently, despite executing large-scale layoffs in the US, with an estimated 100,000 laid off Covid pandemic-induced hiring surge saw net additions for the FAAMNG cohort grow 35% year-on-year in 2022, followed by a slowdown to 6% growth in comparison, the top six Indian IT services firms saw headcount additions soar 22% on year in 2022, followed by declines by 0.2% and 3.1% in 2023 and 2024, respectively. As of June 2025, combined headcount in these firms grew 1.3% year-on-year to 1,625, the country's IT bellwether Tata Consultancy Service (TCS) on Sunday caused shockwaves as it announced layoff of 12,000 employees in mid-to-senior levels, citing skills mismatch in project global giants have also announced major layoffs in recent times, India has seen a lesser impact compared to many other geographies, experts noted.'While we do see some of this affecting India, the volumes so far are not as high as global numbers,' said Neeti Sharma, CEO of IT staffing firm TeamLease hiring in the industry is increasingly selective, with a focus on specialised skills, especially in artificial intelligence (AI) and cloud.'There is a high demand for skills such as AI, cloud and cybersecurity,' while hiring is down for support and routine roles, especially in conventional technologies, Sharma said.'Few older roles will gradually become redundant. However, newer roles are being defined,' she said. 'This transition is tough now, but it's needed to stay relevant.'Employees face more pressure to perform and upskill, especially in AI and cloud, as companies focus on keeping top talent and building leaner teams, Sharma per Quess IT staffing, hiring by large tech firms in India dipped by 3-6% in the fourth quarter of FY2025 ended in March. However, it was up by about 8-10% in the first quarter FY2026, it said.'While global tech firms are making headlines for layoffs abroad, many are increasing hiring in India, especially through their GCCs,' said Kapil Joshi, CEO of Quess IT global capability centres (GCCs) are now doing more high-end work, such as developing AI tools, cloud platforms, and new digital products, he the same time, companies are seeing the need to balance costs while increasing focus on innovation, experts said.'They need to train people faster, close talent gaps, and compete for the best candidates in a tight market,' Joshi said.
Economic Times
3 minutes ago
- Economic Times
Big Tech continues to hire in India even as local majors downsize
iStock Indian IT services majors may be trimming their workforce, but for Big Tech, it's still hiring season in giants under the FAAMNG umbrella – Facebook parent Meta, Amazon, Apple, Microsoft, Netflix, and Google – have grown their India headcount across their own and their affiliate entities by 16% over the past 12 months, data from staffing firm Xpheno showed. The pace of growth is slightly higher than 15% in the 12 months to August 2024. FAAMNG saw over 28,000 net employee additions in the past one year. The current estimated collective headcount across their entities in India is over 208,000, according to hiring rate 'is relatively healthy, especially with the buzz of AI potentially impacting pace and volume of hiring,' said Kamal Karanth, cofounder of companies continue to post healthy hiring demand in the country, with active openings at 4,500 currently, despite executing large-scale layoffs in the US, with an estimated 100,000 laid off Covid pandemic-induced hiring surge saw net additions for the FAAMNG cohort grow 35% year-on-year in 2022, followed by a slowdown to 6% growth in 2023. By comparison, the top six Indian IT services firms saw headcount additions soar 22% on year in 2022, followed by declines by 0.2% and 3.1% in 2023 and 2024, respectively. As of June 2025, combined headcount in these firms grew 1.3% year-on-year to 1,625, the country's IT bellwether Tata Consultancy Service (TCS) on Sunday caused shockwaves as it announced layoff of 12,000 employees in mid-to-senior levels, citing skills mismatch in project deployments. Selective hiring While global giants have also announced major layoffs in recent times, India has seen a lesser impact compared to many other geographies, experts noted.'While we do see some of this affecting India, the volumes so far are not as high as global numbers,' said Neeti Sharma, CEO of IT staffing firm TeamLease hiring in the industry is increasingly selective, with a focus on specialised skills, especially in artificial intelligence (AI) and cloud.'There is a high demand for skills such as AI, cloud and cybersecurity,' while hiring is down for support and routine roles, especially in conventional technologies, Sharma said.'Few older roles will gradually become redundant. However, newer roles are being defined,' she said. 'This transition is tough now, but it's needed to stay relevant.'Employees face more pressure to perform and upskill, especially in AI and cloud, as companies focus on keeping top talent and building leaner teams, Sharma per Quess IT staffing, hiring by large tech firms in India dipped by 3-6% in the fourth quarter of FY2025 ended in March. However, it was up by about 8-10% in the first quarter FY2026, it said.'While global tech firms are making headlines for layoffs abroad, many are increasing hiring in India, especially through their GCCs,' said Kapil Joshi, CEO of Quess IT global capability centres (GCCs) are now doing more high-end work, such as developing AI tools, cloud platforms, and new digital products, he the same time, companies are seeing the need to balance costs while increasing focus on innovation, experts said.'They need to train people faster, close talent gaps, and compete for the best candidates in a tight market,' Joshi said. Elevate your knowledge and leadership skills at a cost cheaper than your daily tea. Zomato delivered, but did the other listed unicorns? US tariff hike to hit Indian exports, may push RBI towards rate cuts Will TCS layoffs open the floodgates of mass firing at Indian IT firms? Indian IT firms never reveal the truth hiding behind 'strong' deal wins Is Bajaj Finance facing its HDFC Bank moment? Tata Motors' INR38k crore Iveco buy: Factors that can make investors nervous Stock Radar: Strides Pharma stock hits fresh 52-week high in July; will the rally continue in August? F&O Radar| Deploy Short Strangle in Nifty to gain from Theta decay For investors who can think beyond Trump: 5 large-cap stocks with an upside potential of up to 36%
