The precious metal of 99.9 percent purity added Rs 3,600 in the previous session, which to hit the new closing summit of Rs 1,02,620 per 10 grams.
In the national capital, on Friday, Rs 1,03,000 per 10 grams (including all taxes) jumped Rs 800 for gold of 99.5 percent purity, which crossed its earlier lifetime of Rs 10 grams per 10 grams per 10 grams after Thursday session.
In the last five sessions, yellow metal prices have increased by Rs 5,800 per 10 grams.
“After the US, the increase in gold prices at 1 kg 39 percent tariffs and 100-ingules on imported gold bars from Switzerland, interrupting a key supply Route and fresh injection Unstable In the bullion market.
“Revisioning of these bars under a taxable category has eliminated their long discounts, as Switzerland is a major purification center and the move has created uncertainty of supply-party and has revived safe-safe interest in gold amidst extensive geopolitical stresses,” financial Services‘CEO Chintan Mehta said. Silver prices were also Rs 1,15,000 per kg (all taxes) on Friday. According to the association, it settled at Rs 1,14,000 per kg on Thursday. White metal has added Rs 5,500 per kg in the last five sessions.
According to Soumil Gandhi, senior analysts, commodities, HDFC Securities, Gold rally is influenced by concerns about the global economic approach, especially after the implementation of President Donald Trump’s new tariff on Thursday.
Additionally, weak American macroeconomic data has increased expectations that the Federal Reserve would reduce interest rates in early September, Gandhi said.
On the MCX, the gold futures, the most trading for the contracts of October, appreciated Rs 782 or 0.77 percent, which reached a fresh summit of Rs 10 grams per 10 grams.
Subsequently, December contracts gave 849 or 0.83 percent resin on boors to hit a high of Rs 1,03,195 at a high level of Rs 1,03,195.
“Moving forward, expected to suffer in gold prices because Trump’s tariff stance creates uncertainty, especially with India’s deal now appearing out of the table. Any positive movement in Rs.” Commodity. currency In LKP Securities, said.
The silver futures for September contracts increased by Rs 554 or 0.48 per cent per kg or 0.48 per cent to Rs 1,14,840 on the Multi Commodity Exchange (MCX).
Spot is a trading flat on gold USD 3,388.56 per ounce. During the day, precious metal increased USD 104.02 or 3.06 percent to a record high hit of USD 3,500.33 per ounce in New York.
“Gold reached a fresh high above US $ 3,500 above USD 3,500, with Bank of England, the major research of Augmont, Renisha Chanani said, this year reduced interest rates with Bank of England and claiming this week is being claimed.”
Meanwhile, the spot silver in international markets rose to USD 38.28 per ounce.