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Business Standard
06-05-2025
- Business
- Business Standard
Gold price jumps ₹2,400 to ₹99,750-10g ahead of US Fed policy decision
Gold prices surged Rs 2,400 to Rs 99,750 per 10 grams in the national capital on Tuesday due to persistent buying by jewellers and stocks, according to the All India Sarafa Association. On Monday, the precious metal of 99.9 per cent purity had ended at Rs 97,350 per 10 grams. Extending the gains for the third straight day, gold of 99.5 per cent purity jumped Rs 2,400 to Rs 99,300 per 10 grams on Tuesday. It had closed at Rs 96,900 per 10 grams in the previous close. "Gold prices edged higher as safe-haven demand returned following President Donald Trump's announcement of fresh tariff plans. "The proposed measures include duties on pharmaceutical imports and a steep 100 per cent tariff on movies produced outside the United States -- a move that stoked concerns over renewed trade tensions and their potential impact on global growth," Abans Financial Services' Chief Executive Officer Chintan Mehta said. As per the Sarafa Association, silver prices also climbed Rs 1,800 to Rs 98,500 per kg. According to experts, market participants will focused on Wednesday's outcome of the US Federal Reserve's FOMC (Federal Open Market Committee) policy meeting and Fed Chair Jerome Powell's commentary on growth and inflation. Meanwhile, the most traded June contract for gold futures rallied Rs 1,951, or 2.06 per cent, to Rs 96,600 per 10 grams on the Multi Commodity Exchange. Globally, spot gold sprinted higher by USD 45.65, or 1.37 per cent, to USD 3,379.77 per ounce. "Gold reclaimed the USD 3,350-level on Tuesday as safe haven flows lent support for precious metals for the second consecutive day amid geopolitical worries stemming from the prolonged Russia-Ukraine war, ongoing conflicts in the Middle East, and fresh tensions between India and Pakistan, which lifted the safe-haven precious metal. "Additionally, weakness in the US dollar also benefits the precious metals and contributes to the uptrend," Saumil Gandhi, Senior Analyst of Commodities at HDFC Securities, said. Spot silver in the overseas markets increased 1.64 per cent to USD 33 per ounce.
Business Mayor
05-05-2025
- Business
- Business Mayor
Gold jumps Rs 550 to Rs 97,350/10 gm; silver declines Rs 400
Gold prices rose Rs 550 to Rs 97,350 per 10 grams in the national capital on Monday amid rise in precious metal rates in the global markets. According to the All India Sarafa Association, the precious metal of 99.9 per cent purity had closed at Rs 96,800 per 10 grams on Friday. Gold of 99.5 per cent purity also appreciated Rs 550 to Rs 96,900 per 10 grams on Monday. The yellow metal had settled at Rs 96,350 per 10 grams in the previous market session. Meanwhile, the most traded June contract for gold futures rallied Rs 1,663, or 1.8 per cent, to Rs 94,300 per 10 grams on the Multi Commodity Exchange. However, silver prices declined Rs 400 to Rs 96,700 per kg from the previous close of Rs 97,100 per kg, as per the Sarafa Association. Spot gold in the international markets rose USD 46.34, or 1.43 per cent, to USD 3,286.83 per ounce. 'Gold surged to USD 3,280 per ounce on a softer dollar ahead of the upcoming US Fed's two-day Federal Open Market Committee (FOMC) policy meeting starting on Tuesday. '…market participants are cautiously eyeing Fed Chair Jerome Powell's post-decision press conference. Further, uncertainty around US-China trade developments is likely to keep risk sentiment cautious,' Kaynat Chainwala, AVP of Commodity Research at Kotak Securities, said. Spot silver climbed 1.24 per cent to USD 32.41 per ounce. READ SOURCE
News18
05-05-2025
- Business
- News18
Gold Price In Delhi Jumps Rs 550 To Rs 97,350 Per 10 Grams; Silver Declines Rs 400
Gold of 99.5 per cent purity in the national capital also appreciates by Rs 550 to Rs 96,900 per 10 grams on Monday. Gold prices rose Rs 550 to Rs 97,350 per 10 grams in the national capital on Monday amid rise in precious metal rates in the global markets. According to the All India Sarafa Association, the precious metal of 99.9 per cent purity had closed at Rs 96,800 per 10 grams on Friday. Gold of 99.5 per cent purity also appreciated Rs 550 to Rs 96,900 per 10 grams on Monday. The yellow metal had settled at Rs 96,350 per 10 grams in the previous market session. Meanwhile, the most traded June contract for gold futures rallied Rs 1,663, or 1.8 per cent, to Rs 94,300 per 10 grams on the Multi Commodity Exchange. However, silver prices declined Rs 400 to Rs 96,700 per kg from the previous close of Rs 97,100 per kg, as per the Sarafa Association. Spot gold in the international markets rose $46.34, or 1.43 per cent, to $3,286.83 per ounce. 'Gold surged to $3,280 per ounce on a softer dollar ahead of the upcoming US Fed's two-day Federal Open Market Committee (FOMC) policy meeting starting on Tuesday. '…market participants are cautiously eyeing Fed Chair Jerome Powell's post-decision press conference. Further, uncertainty around US-China trade developments is likely to keep risk sentiment cautious," Kaynat Chainwala, AVP of Commodity Research at Kotak Securities, said. Spot silver climbed 1.24 per cent to $32.41 per ounce. First Published: May 05, 2025, 15:41 IST
Time of India
05-05-2025
- Business
- Time of India
Gold jumps Rs 550 to Rs 97,350/10 gm; silver declines Rs 400
Gold prices rose Rs 550 to Rs 97,350 per 10 grams in the national capital on Monday amid rise in precious metal rates in the global markets. According to the All India Sarafa Association , the precious metal of 99.9 per cent purity had closed at Rs 96,800 per 10 grams on Friday. Gold of 99.5 per cent purity also appreciated Rs 550 to Rs 96,900 per 10 grams on Monday. The yellow metal had settled at Rs 96,350 per 10 grams in the previous market session. Meanwhile, the most traded June contract for gold futures rallied Rs 1,663, or 1.8 per cent, to Rs 94,300 per 10 grams on the Multi Commodity Exchange. However, silver prices declined Rs 400 to Rs 96,700 per kg from the previous close of Rs 97,100 per kg, as per the Sarafa Association. Spot gold in the international markets rose USD 46.34, or 1.43 per cent, to USD 3,286.83 per ounce. "Gold surged to USD 3,280 per ounce on a softer dollar ahead of the upcoming US Fed's two-day Federal Open Market Committee (FOMC) policy meeting starting on Tuesday. "...market participants are cautiously eyeing Fed Chair Jerome Powell's post-decision press conference. Further, uncertainty around US-China trade developments is likely to keep risk sentiment cautious," Kaynat Chainwala, AVP of Commodity Research at Kotak Securities, said. Spot silver climbed 1.24 per cent to USD 32.41 per ounce.
Express Tribune
13-02-2025
- Business
- Express Tribune
Gold prices sees sharp rise in local, international markets
Listen to article Gold prices experienced a significant rise on Thursday rebounding strongly after a slight dip the previous day. Globally, the price of gold also saw an upward trend in the international bullion market, with the per ounce rate rising by $25, reaching $2,913. According to the Sarafa Association, the price of per tola gold surged by Rs2,500, reaching Rs304,000, while the price of 10 grams increased by Rs2,144, bringing it to Rs260,631 in the local market. In addition to gold, silver prices in Pakistan also experienced a rise. The per tola rate increased by Rs55 to reach Rs3,367, while the price of 10 grams went up by Rs47, standing at Rs2,886. Gold rose on Thursday, supported by a weaker U.S. dollar and growing worries over U.S. President Donald Trump's tariff plans, which could heighten global trade tensions, while investors eyed another set of inflation data. Spot gold added 0.3% to $2,913.38 per ounce as of 0935 GMT, moving back towards its record peak of $2,942.70 hit on Tuesday. U.S. gold futures firmed 0.4% to $2,940.90. A line chart titled "Spot gold price in USD per oz" that tracks the metric over time. On Wednesday, gold prices fell more than 1% after stronger-than-expected US consumer price index for January, but rebounded later as ongoing trade war uncertainties kept the safe-haven metal's demand intact. Trump announced plans to impose reciprocal tariffs on countries that levy duties on US imports, expected Wednesday or Thursday. "Trump is unpredictable and, as long as uncertainty remains in the market, gold will continue to receive support," said Ajay Kedia, director at Kedia Commodities, Mumbai. "Overall, the dollar index is currently under pressure, which has been supportive for gold." The dollar index fell 0.2%, making greenback-priced gold less expensive for foreign buyers. Investors are now focussed on the U.S. Producer Price Index (PPI) data due at 1330 GMT, followed by Friday's retail sales report, for further economic clues. Meanwhile, Federal Reserve Chair Jerome Powell, at his second congressional hearing this week, reiterated that the central bank was in no rush to cut interest rates. "Market is convinced that there is very limited room for the Fed to ease; Fed funds futures trimmed rate cut expectation to 29bps for this year, with the chance of a 25bp cut priced at 78% by September and at 94% by October," OCBC analysts said. Wall Street's main index is closed mostly lower on Wednesday,00:0301:46 Bullion is seen as a hedge against inflation and economic uncertainties, but higher interest rates tarnish the non-yielding asset's allure. ANZ expects gold to touch a record high of $3,000 per ounce in 2025. Spot silver was steady at $32.23 per ounce and platinum was flat at $991.65. Palladium firmed 0.5% to $978.46.
