NEW DELHI– Amid escalating global trade tensions following new tariff measures by U.S. President Donald Trump, both gold and silver prices surged sharply on Monday, with silver reaching a fresh all-time high.
Silver prices jumped by ₹3,577 to ₹1,13,867 per kilogram, up from ₹1,10,290 per kilogram. This comes on the heels of a similar spike last Friday, when silver had also set a new record. Prior to that, silver had touched its previous all-time high of ₹1,09,550 per kilogram on June 18.
Gold prices also posted significant gains. According to the India Bullion Jewellers Association (IBJA), the price of 24-carat gold rose by ₹792, climbing from ₹97,511 to ₹98,303 per 10 grams.
Meanwhile, 22-carat gold increased to ₹90,045 per 10 grams, up from ₹89,320, and 18-carat gold rose from ₹73,133 to ₹73,727 per 10 grams. IBJA updates gold and silver rates twice daily.
On the international market, silver continued its upward momentum, rising 0.59% to $39.185 an ounce. Gold, however, slipped slightly by 0.12%, settling at $3,359.80 an ounce.
Despite the modest global dip in gold, analysts noted a generally bullish outlook driven by renewed tariff threats and currency market volatility.
“Gold prices have seen gains due to heightened global uncertainty stemming from the U.S. imposing additional tariffs on key trade partners including the EU, Canada, and Mexico,” said Jateen Trivedi, Vice President and Research Analyst, Commodity and Currency, at LKP Securities. “The weakening dollar index and a declining rupee are further fueling demand for bullion as a safe-haven asset.”
Trivedi added that upcoming U.S. Consumer Price Index (CPI) data will be closely watched by market participants. “Technically, gold maintains a positive bias as long as it trades within the broader range of ₹97,500 to ₹99,500,” he said. (Source: IANS)
