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The Print
6 days ago
- Business
- The Print
Gold climbs Rs 330 to Rs 98,930/10 g amid strong global cues
Gold of 99.5 per cent purity appreciated by Rs 300 to Rs 98,400 per 10 grams (inclusive of all taxes). It had settled at Rs 98,100 per 10 grams in the previous market session. The yellow metal of 99.9 per cent purity had closed at Rs 98,600 per 10 grams on Friday. New Delhi, Jun 2 (PTI) Gold prices climbed Rs 330 to Rs 98,930 per 10 grams in the national capital on Monday following a firm trend in the global markets, according to the All India Sarafa Association. Additionally, silver prices rose by Rs 100 to Rs 1,00,100 per kg (inclusive of all taxes) on Monday. On the global front, spot gold jumped USD 59.21 per ounce or 1.80 per cent to USD 3,348.61 per ounce. 'Gold prices rise amid growing uncertainty after President Donald Trump announced plans to double tariffs on steel and aluminium imports from 25 per cent to 50 per cent, effective the day after tomorrow,' Abans Financial Services' Chief Executive Officer Chintan Mehta said. On the geopolitical front, escalating geopolitical tensions between Russia-Ukraine and conflicts in the Middle East also lifted the gold prices, Mehta added. HDFC Securities' Senior Analyst of Commodities Saumil Gandhi said investors will be monitoring the US May ISM Manufacturing Purchasing Managers & Index (PMI) report, which is scheduled to be released later in the day. According to commodities market experts, traders will also be awaiting the commentary by US Federal Reserve Chair Jerome Powell. The commentary by the Fed Chair Powell will play a key role in the future monetary policy outlook and will influence the price dynamics and determine the next leg of a directional move for the bullion prices, they said. PTI HG HG BAL BAL This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Time of India
6 days ago
- Business
- Time of India
Gold climbs Rs 330 to Rs 98,930/10 g amid strong global cues
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Gold prices climbed Rs 330 to Rs 98,930 per 10 grams in the national capital on Monday following a firm trend in the global markets, according to the All India Sarafa yellow metal of 99.9 per cent purity had closed at Rs 98,600 per 10 grams on of 99.5 per cent purity appreciated by Rs 300 to Rs 98,400 per 10 grams (inclusive of all taxes). It had settled at Rs 98,100 per 10 grams in the previous market silver prices rose by Rs 100 to Rs 1,00,100 per kg (inclusive of all taxes) on the global front, spot gold jumped USD 59.21 per ounce or 1.80 per cent to USD 3,348.61 per ounce."Gold prices rise amid growing uncertainty after President Donald Trump announced plans to double tariffs on steel and aluminium imports from 25 per cent to 50 per cent, effective the day after tomorrow," Abans Financial Services ' Chief Executive Officer Chintan Mehta the geopolitical front, escalating geopolitical tensions between Russia-Ukraine and conflicts in the Middle East also lifted the gold prices, Mehta Securities' Senior Analyst of Commodities Saumil Gandhi said investors will be monitoring the US May ISM Manufacturing Purchasing Managers & Index (PMI) report, which is scheduled to be released later in the to commodities market experts, traders will also be awaiting the commentary by US Federal Reserve Chair Jerome commentary by the Fed Chair Powell will play a key role in the future monetary policy outlook and will influence the price dynamics and determine the next leg of a directional move for the bullion prices, they said. PTI
Economic Times
6 days ago
- Business
- Economic Times
Gold climbs Rs 330 to Rs 98,930/10 g amid strong global cues
Gold prices climbed Rs 330 to Rs 98,930 per 10 grams in the national capital on Monday following a firm trend in the global markets, according to the All India Sarafa Association. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Gold prices climbed Rs 330 to Rs 98,930 per 10 grams in the national capital on Monday following a firm trend in the global markets, according to the All India Sarafa yellow metal of 99.9 per cent purity had closed at Rs 98,600 per 10 grams on of 99.5 per cent purity appreciated by Rs 300 to Rs 98,400 per 10 grams (inclusive of all taxes). It had settled at Rs 98,100 per 10 grams in the previous market silver prices rose by Rs 100 to Rs 1,00,100 per kg (inclusive of all taxes) on the global front, spot gold jumped USD 59.21 per ounce or 1.80 per cent to USD 3,348.61 per ounce."Gold prices rise amid growing uncertainty after President Donald Trump announced plans to double tariffs on steel and aluminium imports from 25 per cent to 50 per cent, effective the day after tomorrow," Abans Financial Services ' Chief Executive Officer Chintan Mehta the geopolitical front, escalating geopolitical tensions between Russia-Ukraine and conflicts in the Middle East also lifted the gold prices, Mehta Securities' Senior Analyst of Commodities Saumil Gandhi said investors will be monitoring the US May ISM Manufacturing Purchasing Managers & Index (PMI) report, which is scheduled to be released later in the to commodities market experts, traders will also be awaiting the commentary by US Federal Reserve Chair Jerome commentary by the Fed Chair Powell will play a key role in the future monetary policy outlook and will influence the price dynamics and determine the next leg of a directional move for the bullion prices, they said. PTI
The Print
29-05-2025
- Business
- The Print
Gold declines Rs 500 to Rs 98,500/10 g; silver trades flat
'Gold prices continued to correct as easing tariff risks, and a more cautious Federal Reserve dampened safe-haven demand,' Abans Financial Services' Chief Executive Officer Chintan Mehta said. The yellow metal of 99.5 per cent purity fell Rs 500 to Rs 98,000 per 10 grams (inclusive of all taxes). New Delhi, May 29 (PTI) Gold prices declined by Rs 500 to Rs 98,500 per 10 grams in the national capital on Thursday amid weak global cues, according to the All India Sarafa Association. Mehta further said that the US Federal Reserve's May meeting minutes revealed that policymakers are adopting a wait-and-see approach on the timing of interest rate cuts, as they assess the economic impact of recent policy moves, including the now-blocked reciprocal tariffs by the US Court of International Trade. However, silver prices traded flat in the local markets at Rs 1,00,000 per kg (inclusive of all taxes) on Thursday. Additionally, the ongoing conflict between Israel and Hamas in the Middle East continues to fuel instability and global uncertainty, bolstering safe-haven demand for gold and providing some upward support to prices despite other headwinds, he said. Spot gold in the international markets fell by USD 17.94 per ounce or 0.54 per cent to USD 3,304.46 per ounce. Kotak Securities' AVP-Commodity Research Kaynat Chainwala said, 'Investors are now keenly awaiting US macroeconomic data later in the day, such as preliminary GDP, weekly jobless claims, and pending home sales, for further economic cues'. PTI HG HG SHW SHW This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
The Print
22-05-2025
- Business
- The Print
Gold rises Rs 200 to Rs 98,650/10 g; silver rallies Rs 2,040 per kg
In contrast, silver prices in the local markets breached the crucial Rs 1 lakh per kg level by rallying Rs 2,040 to Rs 1,01,200 per kg (inclusive of all taxes) on Thursday. Gold of 99.5 per cent purity increased by Rs 200 to Rs 98,200 per 10 grams (inclusive of all taxes) on Thursday. New Delhi, May 22 (PTI) Gold prices rose Rs 200 to Rs 98,650 per 10 grams in the national capital on Thursday due to a pick-up in local demand by jewellers and stockists, according to the All India Sarafa Association. Firm global trends and escalating tensions in the Middle East also supported the local prices, the association. 'Gold prices extended their rally as the US dollar remained under pressure, following renewed concerns over economic stability,' Abans Financial Services Chief Executive Officer Chintan Mehta said. US President Donald Trump's proposed budget, which includes significant tax reductions, is projected to add over USD 3 trillion to the national debt. This has heightened fears of financial instability and weakened confidence in US government bonds, Mehta said. Meanwhile, spot gold slipped 0.50 per cent to USD 3,298.69 per ounce in the international markets. 'Gold prices traded positive supported by a sharp decline in the US Dollar Index and renewed concerns over US debt sustainability. 'The weaker dollar and ongoing global geopolitical uncertainties have sustained investor interest in gold as a safe-haven asset,' Jateen Trivedi, VP Research Analyst of Commodity and Currency at LKP Securities, said. HDFC Securities' Senior Analyst of Commodities Saumil Gandhi said gold extended gains on Thursday, driven by safe-haven demand amid renewed tensions between the US and China, which dampened investors' appetite for riskier assets, leading to increased demand for the safe haven. According to Kaynat Chainwala, AVP – Commodity Research, Kotak Securities, market participants will be awaiting the release of key flash PMI data from major global economies, including the US and UK and US jobless claims, later in the day. PTI HG HG BAL BAL This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
