New Delhi: In the national capital, gold prices held steady at their all-time high of Rs 94,150 per 10 grams, according to the All India Sarafa Association. This follows a sharp Rs 2,000 increase the previous day, marking the steepest rise in nearly two months.
Gold with 99.5 per cent purity also remained unchanged at Rs 93,700 per 10 grams, maintaining its lifetime peak. Traders say the stability comes amid rising concerns over potential reciprocal tariffs from the US, which could impact global trade and economies.
Silver Prices Face a Sharp Drop
Silver, however, saw a significant decline of Rs 1,000, trading at Rs 1,01,500 per kg, down from Rs 1,02,500 per kg the day before. This drop reflects market reactions to ongoing geopolitical tensions and economic uncertainties.
Market Outlook Amid US Tariff Worries
Saumil Gandhi, Senior Analyst at HDFC Securities, noted that the anticipation of new US tariffs could trigger volatility across financial markets. Investors are closely watching how these tariffs might affect global trade, the economy, and geopolitical stability.
Typically, uncertain times drive investors towards precious metals like gold and silver, seen as safe-haven assets.
Global Gold and Silver Trends
Globally, spot gold rose by 0.11 per cent to USD 3,116.86 per ounce, while Comex gold futures for June delivery remained flat at USD 3,149.30 per ounce. Spot silver increased by 0.52 per cent in Asian markets, reaching USD 33.87 per ounce.
Market participants are also awaiting the upcoming US private jobs report, which could offer clues about the Federal Reserve’s future monetary policy decisions.
