Gold Surges Amid Global Trade Tensions
Gold prices increased by Rs 700 in New Delhi due to global trade worries. Silver also rose significantly. Tariff introductions by President Trump have fueled interest in safe-haven investments. Market outlook depends on further tariff developments. Internationally, gold has gained as investors eye economic indicators.
- Country:
- India
Gold prices soared by Rs 700 to reach Rs 99,370 per 10 grams in New Delhi on Friday, driven by rising demand for safe-haven assets in the face of escalating global trade tensions.
The All India Sarafa Association reported that 99.9% pure gold had previously closed at Rs 98,670 per 10 grams on Thursday. Meanwhile, gold of 99.5% purity rose by Rs 600 to Rs 98,800 per 10 grams.
Significant attention was also on silver, which rallied by Rs 1,500 to Rs 1,05,500 per kilogram. Market experts point to US President Donald Trump's recent tariff announcements as a major catalyst for these shifts, enhancing fears of a global trade war and sparking renewed investment in precious metals.
(With inputs from agencies.)
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