Gold surges Rs 950; Silver falls Rs 250

New Delhi: Gold price rallied by Rs 950 to Rs 97,500 per 10 gram in the national capital on Tuesday amid firm trend in overseas markets, according to the All India Sarafa Association. The precious metal of 99.5 per cent purity jumped Rs 1,000 to Rs 97,100 per 10 gram. On Monday, gold of 99.9 per cent and 99.5 per cent fell sharply by Rs 3,400 each to Rs 96,550 and Rs 96,100 per 10 grams, respectively. Meanwhile, silver depreciated Rs 250 to Rs 99,450 per kg against the previous close of Rs 99,700 per kg.

“Gold prices have risen again after a sharp correction, as safe-haven demand eased following a pause in the US-China trade war,” Abans Financial Services’ Chief Executive Officer Chintan Mehta said. The US agreed to cut tariffs on Chinese imports to 30 per cent from 145 per cent, while China reduced duties on US goods to 10 per cent from 125 per cent.