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Business Standard
2 days ago
- Business
- Business Standard
Gold price climbs ₹10 to ₹1,03,320; silver falls ₹100, trading at ₹1,16,900
The price of 22-carat gold also increased by ₹10, with ten grams of the yellow metal selling at ₹94,710 Gold Price Today: The price of 24-carat gold climbed ₹10 in early trade on Saturday, with ten grams of the precious metal trading at ₹1,03,320, according to the GoodReturns website. The price of silver fell ₹100, with one kilogram of the precious metal selling at ₹1,16,900. The price of 22-carat gold also increased by ₹10, with ten grams of the yellow metal selling at ₹94,710. The price of ten grams of 24-carat gold in Mumbai, Kolkata, and Chennai stood at ₹1,03,320. In Delhi, the price of ten grams of 24-carat gold stood at ₹1,03,470. In Delhi, the price of ten grams of 22-carat gold stood at ₹94,860. The price of one kilogram of silver in Delhi, Kolkata, and Mumbai stood at ₹1,16,900. The price of one kilogram of silver in Chennai stood at ₹1,26,800. US gold futures pared gains on Friday, retreating from record high levels, after reports that the White House plans to issue an executive order clarifying the country's stance on gold bar tariffs. The statement from White House official on the upcoming executive order follows a ruling posted by the US Customs and Border Protection service's website, indicating that Washington may place the most widely traded gold bullion bars in the United States under country-specific import tariffs. December US gold futures were steady at $3454.1 per ounce as of 1852 GMT, after hitting a record $3,534.10 earlier in the session. The spread between US gold futures and spot prices widened, and currently sits at $57, down from over $100 earlier in the session. Spot gold steadied at $3,396.8 per ounce as of 2:52 p.m. ET (1852 GMT), but was up 1 per cent for the week. Elsewhere, spot silver was steady at $38.29, platinum fell 0.5 per cent to $1,327.85, and palladium was down 2.2 per cent at $1,125.48.
New York Post
2 days ago
- Business
- New York Post
Gold futures hit all-time high as tariff uncertainty sparks turmoil
US gold futures hit a record high on Friday amid uncertainty over whether country-specific US import tariffs would apply to the most commonly traded sizes of gold bars. Spot prices, meanwhile, eased but remained on track for a weekly gain. Washington may place the most widely traded gold bullion bars in the United States under country-specific import tariffs, according to a ruling on the US Customs and Border Protection service's website, which would be a major blow to global supply chains for the metal. Advertisement Washington may place the most widely traded gold bullion bars in the United States under country-specific import tariffs, which would be a major blow to global supply chains for the metal. EZPS – December US gold futures recently rose 1.2% to $3,494.10 per ounce after hitting a record $3,534.10 earlier in the session, when the Financial Times first reported the news. 'Gold's panic ascent shows that even safe haven assets are not immune to the volatility unleashed in the confusion of the tariff age,' Susannah Streeter, head of money and markets, Hargreaves Lansdown. 'If there is follow through and no intervention, this could threaten New York's dominance in the gold futures market, given prices have risen sharply compared to other trading centers,' she added. Advertisement The spread between US gold futures and spot prices widened, and currently sits at $100. Spot gold dipped 0.1% to $3,394.26 per ounce, but was up 0.9% for the week. Analysts broadly noted that they are awaiting further clarity on the issue, adding that a US tariff on gold deliveries could significantly affect Switzerland, given its status as the world's leading hub for gold refining and transit. Swiss goods are subject to US import tariffs of 39%, and the country is continuing discussions with the United States about reducing the levies. Advertisement Gold futures hit an intraday record of $3,534.10. AP The Swiss Precious Metals Association voiced concerns about the implications of the tariffs for the gold industry, and said it is in active dialog with key stakeholders. 'Longer term, the new tariffs could likely mean a jamboree for US refiners transforming large 400-oz bars into retail units,' said Adrian Ash, head of research at online marketplace BullionVault. Elsewhere, spot silver rose 0.1% to $38.35, platinum fell 0.5% to $1,327.79 and palladium was down 1.1% at $1,139.67.
