Gold prices in India hit an all time high of Rs 8,432 per gram with an increase of Rs 1,322 against Rs 8,310 on Feb 4. Safe haven buying is supporting the prices amidst global uncertainties. As per experts, gold prices have hit an all time high as China has responded to US tariffs which were imposed by President Donald Trump on the world’s largest consumer of gold.
Motilal Oswal (NSE:MOFS) Financial Services Limited said the market views US tariffs as inflationary and potentially boost safe haven demand for bullion which is traditionally seen as a hedge against both price rise and geo-political turmoil.
22 carat gold is priced at Rs 8,230 per gram. April gold futures on MCX touched a new high of Rs 84,200 per 10 grams.
In Delhi, 24 carat gold is priced at Rs 85,383 per 10 grams. In Chennai, it is Rs 85,231 per 10 grams.
In Mumbai and Kolkata, gold is trading at Rs 85,237 and Rs 85,235 per 10 grams respectively.
Silver prices remained stable. March silver futures on MCX is trading at Rs 95,674 per kg.
However, silver has gained Rs 1,400 per kg so far this week.
Chennai has the highest silver price at Rs 1,08,600 per kg. Delhi has the lowest at Rs 1,01,500 per kg.
In Mumbai, silver is trading at Rs 1,00,800 per kg and in Kolkata at Rs 1,02,300 per kg.
In international market, spot gold is up 0.2% at $2,847.33 per ounce. It hit a new all time high of $2,848.94 per ounce. US gold futures is steady at $2,876.10 per ounce. Spot silver is up 0.2% at $32.15 per ounce.
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