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Precious metal prices climbed 3 per cent in the national capital on Monday, with silver surging to Rs 2.7 lakh per kilogram and gold advancing to Rs 1.6 lakh per 10 grams, due to strong safe-haven demand amid growing global trade uncertainties after the US Supreme Court ruling against Trump's tariffs. According to the All India Sarafa Association, silver jumped Rs 8,000, or 3.03 per cent, to Rs 2,72,000 per kilogram (inclusive of all taxes) from Friday's closing level of Rs 2,64,000 per kg. Gold of 99.9 per cent purity also increased by Rs 3,300, or 2.06 per cent, to Rs 1,62,800 per 10 grams (inclusive of all taxes). It had settled at Rs 1,59,500 per 10 grams in the previous market session. Silver and gold extended bullish momentum on Monday, with both metals trading at a three-week high, supported by renewed safe-haven demand. The rally came following a landmark US Supreme Court ruling against Trump's tariffs, which triggered sharp cross-asset volatility and prompted investors to
Silver and gold are expected to extend their gains next week as investors sought safety in safe-haven assets amid renewed trade tensions following US President Donald Trump's decision to raise global tariffs and rising geopolitical strains in the Middle East, analysts said. Market participants will closely watch key economic indicators, including the US Producer Price Index (PPI), consumer confidence data, weekly initial jobless claims and the People's Bank of China's lending rate decision, for cues on the direction of precious metals, they added. "Markets are awaiting the US producer price index (PPI), housing data, consumer confidence, regional Fed indicators, and the People's Bank of China's prime rate decision," Choice Broking said. The brokerage firm said escalating geopolitical risks and Trump's move to raise global tariffs after the US Supreme Court's ruling have revived trade uncertainties and strengthened safe-haven demand for bullion. On the Multi Commodity Exchange, silv