- Gold Prices Up: 24-carat gold price increased by ₹10, now at ₹87,070 per 10 grams.
- Silver Prices Fall: One kg of silver dropped ₹100, trading at ₹99,400.
- US Gold Hits Record: Global gold prices reached an all-time high of $2,921.15 per ounce.
- Market Impact: US tariff hikes on steel and aluminum drive investor interest in gold.
Gold prices saw a marginal rise in early trade on Tuesday, while silver prices dropped slightly. According to the GoodReturns website, the price of 24-carat gold increased by ₹10, with ten grams selling at ₹87,070. The price of 22-carat gold also rose by ₹10 to ₹79,810 per 10 grams.
In major Indian cities, the price of 24-carat gold remained consistent at ₹87,070 per 10 grams in Mumbai, Kolkata, Chennai, and Hyderabad, while it was slightly higher in Delhi at ₹87,220. The price of 22-carat gold followed a similar trend, standing at ₹79,810 in Mumbai, Kolkata, Bengaluru, Chennai, and Hyderabad, and ₹79,960 in Delhi.
Meanwhile, silver prices witnessed a decline, with one kilogram of silver falling ₹100 to ₹99,400. This price was uniform in Delhi, Mumbai, Kolkata, and Bengaluru. However, in Chennai, silver remained significantly higher at ₹1,06,900 per kg.
US Gold Prices Soar Amid Tariff Concerns
In global markets, gold prices hit a new record as investors turned to the precious metal as a safe-haven asset. Spot gold climbed 0.4% to $2,919.90 per ounce and briefly reached a record high of $2,921.15 per ounce. This surge followed US President Donald Trump’s decision to impose new 25% tariffs on steel and aluminum imports, sparking fears of a potential trade war and inflation.
Other precious metals also saw movement in international markets. Spot silver edged up 0.3% to $32.12 per ounce, while platinum remained steady at $993.80. However, palladium dipped 0.3% to $979.88 per ounce.
With gold prices reaching new highs globally and Indian gold rates seeing a steady increase, market watchers remain attentive to further economic developments and policy changes.
