New Delhi- Gold and silver prices recorded a strong rally this week, keeping both metals close to their all-time highs.
As per data from the India Bullion and Jewellers Association (IBJA), the price of 24-carat gold has risen to Rs 1,09,707 per 10 grams from Rs 1,06,338 last week—an increase of Rs 3,369.
Similarly, 22-carat gold climbed from Rs 97,406 to Rs 1,00,492 per 10 grams, while 18-carat gold advanced from Rs 79,754 to Rs 82,280 per 10 grams.
Silver too witnessed a notable surge, gaining Rs 4,838 during the period. It is now priced at Rs 1,28,008 per kg, up from Rs 1,23,170.
Analysts attribute the rally to rising global uncertainties. The recent tariff measures announced by US President Donald Trump on multiple countries have fueled concerns, boosting demand for safe-haven assets like gold and silver.
Jatin Trivedi of LKP Commodities said gold continues its bullish momentum amid expectations of a US Federal Reserve rate cut. He added that despite being in an overbought zone, ongoing tariff disputes and the global push toward de-dollarization are keeping prices supported. Gold is expected to trade between Rs 1.07 lakh and Rs 1.12 lakh per 10 grams in the near term, he noted.
Since January 1, gold has surged 44.04 per cent, rising from Rs 76,162 to Rs 1,09,707 per 10 grams—an increase of Rs 33,545. Silver has gained even more sharply, soaring 48.81 per cent from Rs 86,017 to Rs 1,28,008 per kg during the same period.
With inputs from IANS