Gold & Silver Price Update: Big Shift in Rates — Check Latest Prices Before Buying
National Desk: In the bullion market of the national capital, silver prices witnessed a sharp rise on Thursday, climbing by ₹1,700 to reach ₹2.58 lakh per kilogram. The surge was driven by sustained demand and a firm global trend, as investors continued to monitor geopolitical developments and currency fluctuations.
According to the All India Sarafa Association, silver prices increased by ₹1,700 — लगभग 1% — to ₹2,58,700 per kg (inclusive of all taxes), compared to the previous session’s closing price of ₹2,57,000 per kg.
On the other hand, gold prices saw a slight decline. The price of 99.9% pure gold fell by ₹200 to ₹1,57,800 per 10 grams (inclusive of all taxes), down from ₹1,58,000 per 10 grams in the previous session.
Soumil Gandhi, Senior Commodity Analyst at HDFC Securities, stated that gold traded within a limited range on Thursday, reflecting mixed market signals. He explained that ongoing tensions around the Strait of Hormuz boosted demand for the US dollar as a safe-haven asset, which in turn acted as a major hurdle for gold prices.
He further added that a stronger US dollar and rising US bond yields also capped gains in precious metals. However, optimism around renewed diplomatic engagement between the United States and Iran improved overall risk sentiment. Reports suggesting a possible two-week extension of the ceasefire talks helped keep crude oil prices near recent lows, easing immediate inflation concerns and preventing a sharper fall in bullion prices.
In the international market, spot silver rose करीब 1% to $79.61 per ounce, while gold gained $18.36 (0.38%) to trade at $4,809.16 per ounce.
Praveen Singh, Head of Commodities at Mirae Asset Sharekhan, noted that gold hovered around $4,811 per ounce amid expectations of a ceasefire agreement between Israel and Lebanon.
