In the national capital, gold prices remained unchanged at an all-time high of Rs 94,150 per 10 grams for 99.9% purity on Wednesday, as reported by the All India Sarafa Association. Gold of 99.5% purity also held steady at its record peak of Rs 93,700 per 10 grams.
This stability occurred amidst market anticipation of US President Donald Trump’s potential announcement of reciprocal tariffs on countries with trade deficits with the US, including India. On Tuesday, gold prices had surged by Rs 2,000, reaching this historic high.
Conversely, silver prices experienced a decline, falling by Rs 1,000 to Rs 1,01,500 per kg.
Analysts predict that the tariff announcement could trigger significant market volatility. Saumil Gandhi of HDFC Securities noted that “uncertain times typically benefit precious metals,” as investors seek safe-haven assets.
Globally, spot gold saw a slight increase of 0.11% to USD 3,116.86 per ounce, while Comex gold futures for June delivery remained flat at USD 3,149.30 per ounce. Spot silver rose by 0.52% to USD 33.87 per ounce in Asian trading.
Market participants are also awaiting the US private jobs report, which could provide insights into the Federal Reserve’s monetary policy, according to Kaynat Chainwala of Kotak Securities.
