Gold Price Today
Gold prices have been increased for the third consecutive day in the current week. According to the data, in three days, the price of gold has seen a rise of Rs 1400 per ten grams. According to experts, Trump's tariff threat is constantly being seen. Because of which there is tension among investors. In an interview a day earlier, Trump said that he would put up to 250 percent tariffs on pharma. Due to which the panic is being seen in investors and has increased the demand for gold. On the other hand, the price of silver has seen a rise and prices have increased by Rs 3400 per kg in three days. Let us also tell you how much gold and silver prices have been increased in the country's capital Delhi.
According to the All India Bullion Association, the price of gold increased by Rs 200 to Rs 99,020 per 10 grams in the national capital Delhi on Wednesday. In the last market session, gold with 99.9 percent purity closed at Rs 98,820 per 10 grams. In the national capital, gold with 99.5 per cent purity rose by Rs 100 to Rs 98,600 per 10 grams (including all taxes) on Wednesday. On Tuesday, it closed at Rs 98,500 per 10 grams. According to the bullion association, silver prices rose by Rs 500 to Rs 1,12,500 per kg (including all taxes) on Wednesday. Silver closed at Rs 1,12,000 per kg at the time of last market closure.
Soumil Gandhi, Senior Analyst (Commodities) of HDFC Securities, said that the demand for safe investment continued, due to the rise in the prices of precious metals, there was a slight positive attitude in gold on Wednesday. US President Donald Trump on Tuesday threatened a new tariff on drug imports. He said that tariffs will be small in the beginning but can increase by 250 percent over time. Additionally, Trump indicated that the announcement regarding the tariff on semiconductor and chips would be made soon. Gandhi said that this tariff uncertainty has increased the risk premium on precious metals. He said that traders will keep an eye on the speeches of the members of the Federal Reserve later during the day, which will provide further guidance about the direction of bullion prices.
Gold spot in New York fell at $ 17.51 or 0.52 percent to $ 3,363.35 an ounce. Jatin Trivedi, vice -president (commodity and currency) of LKP Securities, said that gold prices remained weak as the prices of precious metals in international markets were seen with weak signals below $ 3,360 an ounce and the dollar index has seen positive rise in the last few days. Internationally, the spot silver fell 0.12 percent to $ 37.76 an ounce. He said that business tension is increasing as President Trump has threatened to impose a fee of up to 35 percent on the European Union. Chintan Mehta, CEO of Abson Financial Services, said that in the meantime, investors are keeping a close watch on American trade talks with other countries, as any new fee can put further pressure on the economy, which can increase inflation and in turn, lead gold prices.
