Gold and Silver Prices Reach New Heights Amid Strong Demand
Gold and Silver Prices Surge
On Monday, gold closed at ₹90,750 per 10 grams, while silver reached ₹1,02,500 per kilogram.
Gold-Silver Price Today (Business Desk): The prices of both precious metals continue to rise due to robust domestic demand. On Monday, both gold and silver reached their highest ever closing prices. Economic analysts predict that this upward trend may persist in the coming days, potentially pushing both metals past the ₹1 lakh mark.
Price Overview for Monday
Amid a strong global outlook, the prices of gold and silver surged to record levels in the national capital on Monday. In the Delhi bullion market, gold increased by ₹1,300, closing at ₹90,750 per 10 grams. This marks the fourth consecutive session of rising prices for gold, which previously closed at ₹89,450 per 10 grams. The price of 99.5% pure gold rose to ₹90,350 per 10 grams, up from ₹89,050 per 10 grams on Thursday.
Silver also saw a rise of ₹1,300, closing at ₹1,02,500 per kilogram, compared to its previous closing price of ₹1,01,200 per kilogram. Analysts attribute this increase to uncertainties surrounding U.S. tariffs, trade tensions, and growing expectations of a more accommodative monetary policy from the Federal Reserve, which have all contributed to a strong performance in global markets.
Reasons Behind the Price Surge
Experts believe that the rising prices of these precious metals are influenced by ongoing trends in international markets and shifts in domestic demand. In the international market, spot gold remained stable at approximately $2,915.73 per ounce, while Comex futures were recorded at $2,921.30 per ounce.
Weak Dollar Contributes to Rising Prices
The increase in gold and silver prices is also linked to the weakening of the U.S. dollar. The dollar has fallen to a five-month low, impacted by economic concerns and geopolitical instability. Additionally, the volatility associated with U.S. President Donald Trump's trade policies has further affected market dynamics.
How to Check Gold Purity
Each carat of gold has a distinct hallmark number. For instance, 24-carat gold is marked as 999, 23-carat as 958, 22-carat as 916, 21-carat as 875, and 18-carat as 750. This ensures clarity regarding purity. Typically, 22-carat gold, which is primarily used for jewelry, is 91.6% pure.