Gold prices (99.9% purity)jumped Rs 400 to Rs 98,020 per 10 grams in the national capital on Monday as against its closing rate of at Rs 97,620 per 10 grams on Friday.
In the national capital, 99.5 percent purity gold rose by Rs 300 to Rs 97,800 per 10 grams as against its previous closing rate of Rs 97,500 per 10 grams.
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“24‑karat gold at Rs 100,167 per 10 g and silver at Rs 111,900 per kg, the macro environment is clearly bullish. Gold is commanding robust demand as a haven in the face of weakening US growth, tariff‑induced inflation pressures, and a weakening dollar Citi sees gold in the $3,300–3,600/oz zone in the near future,” Aksha Kamboj, VP, India Bullion & Jewellers Association (IBJA) told Zee News.
For silver, persistent worldwide supply shortages and accelerating industrial demand particularly in green technology uses are behind price momentum, with projections of a 15–20% increase in the next 12–24 months, Kamboj added.
“Within this setting, investors need to view gold as portfolio ballast and silver as a growth and diversification play, with disciplined, long‑term exposure,” she said.
In the international market Gold prices steadied on Tuesday, hovering near a two-week high hit in the last session. Spot gold was trading at $3,369.25 per ounce, as of 0629 GMT. Bullion hit its highest since July 24 on Monday. US. gold futures was unchanged at $3,423.20.The dollar index traded near a one-week low, making gold more affordable to holders of other currencies, reported Reuters.
