The bullion market fluctuated throughout the week due to the possibility of a global tariff war after US President Donald Trump imposed tariffs on various countries. On the other hand, it has not yet had any major impact in India. Gold and silver prices increased at a slow but steady speed amidst the stance of vigilance in the domestic market amid global factors. A similar trend was seen on Friday.

In Ahmedabad, the price of 24 carat gold increased by Rs 100 per 10 grams to Rs 88,900. Apart from this, the price of 22 carat gold increased to Rs 88,600 per 10 grams. Silver rose by Rs 500 per kg to reach the level of Rs 97,000. In the international market, gold was trading at $ 2,919 an ounce against $ 2,905 an ounce. Globally, silver stood at $ 32.57 an ounce against $ 32.40 an ounce.

Comex gold futures were trading at $ 2.40 to $ 2,928.30 an ounce late Friday. Comex silver was trading at 28.3 cents to $ 33.05 an ounce. The April delivery gold futures fell by Rs 34 to Rs 86,000 per 10 grams at the local level. The May contract of silver on MCX rose by Rs 607 to Rs 97,534 per kg.

According to bullion analysts, gold and silver demand has increased due to the weakening of the dollar index. On the other hand, investors are hedging in precious metals for safe investment keeping in mind the risk of trade war. At the present level, short -term may improve, but long -term will continue to rise.