Explore Business Standard
Associate Sponsors
Co-sponsor
Silver
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 prices on Monday rose nearly 5 per cent to Rs 2,65,282 per kg in the futures market as renewed global tariff tensions boosted demand for safe-haven assets. On the Multi Commodity Exchange (MCX), silver futures for March delivery zoomed Rs 12,338, or 4.88 per cent, to Rs 2,65,282 per kg in 6,024 lots. In the international market, comex silver futures for March contract rose 5.58 per cent, or USD 4.5, to USD 86.93 per ounce. Silver climbed to trade above 5 per cent, extending gains to a fourth session as renewed tariff tensions boosted demand for safe-haven assets, Jigar Trivedi, Senior Research Analyst at Indusind Securities, said. Meanwhile, US President Donald Trump raised a global levy from 10 per cent to 15 per cent following the US Supreme Court's rejection of his "reciprocal" tariffs. Amid this, India delayed talks aimed at finalising an interim deal with Washington. "Investors also grappled with growing fears that the Trump administration could initiate military acti
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
Precious metal prices are expected to witness further consolidation in the next week, with volatility likely to persist as investors track key US economic data, including inflation numbers, GDP readings and policy signals from Federal Reserve, analysts said. Traders will also closely watch the US labour data, along with Federal Open Market Committee (FOMC) meeting minutes and speeches from Fed officials, for cues on the timing and pace of potential rate cuts, they added. Pranav Mer, Vice President, EBG, Commodity & Currency Research, JM Financial Services Ltd, said gold and silver prices may continue to see more consolidative moves but volatility will prevail with focus on incoming US data on GDP and the Personal Consumption Expenditures (PCE) inflation numbers and Federal Reserve official's commentary. On the domestic front, silver futures on the Multi Commodity Exchange (MCX) declined Rs 5,532, or 2.2 per cent, while gold rose Rs 444, or 0.3 per cent, over the past week. "Gold ..