Gold prices surged Rs 2,400 to Rs 99,750 per 10 grams in the national capital on Tuesday due to persistent buying by jewellers and stocks, according to the All India Sarafa Association.
On Monday, the precious metal of 99.9 per cent purity had ended at Rs 97,350 per 10 grams.
Extending the gains for the third straight day, gold of 99.5 per cent purity jumped Rs 2,400 to Rs 99,300 per 10 grams on Tuesday. It had closed at Rs 96,900 per 10 grams in the previous close.
Gold prices increased as safe-haven demand returned following President Donald Trump’s announced fresh tariff plans.
ALSO READ: Behind Barricades: Manipur's Silent Economic Emergency Unfolds Amid Ethnic Unrest
“The proposed measures include duties on pharmaceutical imports and a steep 100 per cent tariff on movies produced outside the US — a move that stoked concerns over renewed trade tensions and their potential impact on global growth,” Abans Financial Services’ chief executive officer, Chintan Mehta, said.
According to the Sarafa Association, silver prices climbed Rs 1,800 to Rs 98,500 per kg.
According to experts, market participants will focus on Wednesday’s outcome of the US Federal Reserve’s FOMC (Federal Open Market Committee) policy meeting and Fed Chair Jerome Powell’s commentary on growth and inflation.
FIRST Business Portal addressing the potential of business capability of North East Region.
