Gold surges over Rs 3,300, silver crosses Rs 1.28 lakh mark
image for illustrative purpose
New Delhi: Gold and silver prices witnessed a sharp rally last week, keeping both precious metals close to their all-time highs.
According to the India Bullion and Jewellers Association (IBJA), the price of 24-carat gold stands at Rs1,09,707 per 10 grams, compared to Rs1,06,338 a week ago -- reflecting a rise of Rs 3,369.
Prices of 22-carat gold have climbed from Rs97,406 to Rs1,00,492 per 10 grams, while 18-carat gold has risen from Rs79,754 to Rs82,280 per 10 grams.
Silver prices also gained significantly, rising by Rs 4,838 during the review period. The white metal now trades at Rs 1,28,008 per kg, up from Rs1,23,170.
The rally in precious metals is being attributed to rising global uncertainties. Recent tariff measures imposed by US President Donald Trump on multiple countries have heightened concerns worldwide.
Traditionally seen as safe-haven assets during times of uncertainty, both gold and silver have witnessed higher demand, while limited supply has further pushed prices upward.
Jatin Trivedi of LKP Commodities noted that gold prices have continued their bullish run, driven by increasing expectations of a US Federal Reserve rate cut.
