Gold Silver Price: Gold jumps by Rs 400 to cross Rs 85 thousand

Gold and silver prices – Photo: PTI

Gold & Silver Prices Surge: Gold Crosses ₹85,000 Mark, Silver Up by ₹300

Gold prices in the national capital soared by ₹400 on Monday, reaching a new record of ₹85,300 per 10 grams. The surge was driven by strong buying interest among jewelers and stockists. Meanwhile, silver prices also rose by ₹300, hitting ₹96,000 per kg.

Gold Prices Hit Record High

According to the All India Sarafa Association, gold continued its upward trend, climbing ₹400 to a record ₹85,300 per 10 grams. Market experts attribute this surge to a weakening rupee and strong global trends. On Saturday, 99.9% pure gold closed at ₹84,900 per 10 grams.

Additionally, 99.5% pure gold saw a ₹400 increase for the fourth consecutive session, reaching ₹84,900 per 10 grams, compared to ₹84,500 in the previous session.

Silver Prices Continue Uptrend

Silver prices also witnessed an increase, rising ₹300 to ₹96,000 per kg on Monday, marking the fifth consecutive session of gains. The metal had previously closed at ₹95,700 per kg.

Impact of Currency & Global Markets

The Indian rupee fell by 55 paise to an all-time low of 87.17 (provisional) against the US dollar on Monday. Market sentiment took a hit after the Trump administration imposed tariffs on Canada, Mexico, and China.

On the Multi Commodity Exchange (MCX), gold futures for April delivery surged ₹461 (0.56%) to ₹82,765 per 10 grams. Jatin Trivedi, Vice President & Research Analyst at LKP Securities, noted that safe-haven demand for gold increased due to concerns over a potential trade war.

Meanwhile, April gold futures had already hit a record ₹83,360 per 10 grams on Saturday, coinciding with the Union Budget 2025-26 announcement by Finance Minister Nirmala Sitharaman. Silver futures for March delivery also gained ₹436 (0.47%) to ₹93,650 per kg.

International Gold & Silver Trends

Globally, Comex gold futures declined by $7.50 (0.26%), trading at $2,827.50 per ounce. Saumil Gandhi, Senior Analyst at HDFC Securities, stated that gold faced selling pressure due to a stronger US dollar and profit booking. The dollar climbed to a three-week high after President Donald Trump imposed fresh tariffs.

On Friday, international gold futures for April had touched an all-time high of $2,862.90 per ounce. Comex silver futures in the Asian market were down 0.50% at $32.10 per ounce.

Key Economic Data to Watch

According to Praveen Singh, Associate Vice President at Mirae Asset Sharekhan, this week’s US economic data—including JOLTS job openings, ISM services, ADP employment, and non-farm payrolls—will play a crucial role in determining the future trend of bullion prices.

Stay tuned for further updates on gold and silver prices as market dynamics continue to evolve.

Leave a Reply

Your email address will not be published. Required fields are marked *