Gold prices in India hit a record high of Rs 8,432 per gram on Wednesday, rising by Rs 1,322 from Rs 8,310 on February 4 due to increased safe-haven buying amid global uncertainties. Experts attribute this surge to safe-haven demand sparked by China’s response to US tariffs. Market experts from Motilal Oswal Financial Services Limited suggest that the US tariffs are seen as inflationary, potentially driving up demand for gold as a hedge against rising prices and geopolitical risks.
In Delhi, 24-carat gold was priced at Rs 85,383 per 10 grams, with prices in Chennai slightly lower at Rs 85,231. Mumbai and Kolkata saw gold trading at Rs 85,237 and Rs 85,235, respectively. Meanwhile, the highest price for silver was recorded in Chennai at Rs 1,08,600 per kilogram, while Delhi had the lowest at Rs 1,01,500. On the MCX, gold futures reached a new high of Rs 84,200 per 10 grams, with silver futures stable at Rs 95,674 per kilogram. Silver prices have risen Rs 1,400 per kilogram this week.
In Mumbai, silver traded at Rs 1,00,800 per kilogram, and Kolkata at Rs 1,02,300 per kilogram. Internationally, spot gold rose 0.2% to $2,847.33 per ounce, reaching a high of $2,848.94. US gold futures held at $2,876.10 per ounce. Spot silver also increased by 0.2% to $32.15 per ounce.
Sources News From Various Digital Platforms, Websites, Journalists, And Agencies.
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