Gold price climbs Rs 10 to Rs 87,990, silver rises Rs 100 to Rs 1,00,100

Gold Price Today: The price of 24-carat gold climbed Rs 10 in early trade on Thursday, with ten grams of the precious metal trading at Rs 87,990 according to the GoodReturns website. The price of silver rose Rs 100, with one kilogram of the precious metal selling at Rs 1,00,100.

 

The price of 22-carat gold rose Rs 10, with ten grams of the yellow metal selling at Rs 80,660.

 

The price of ten grams of 24-carat gold in Mumbai, Kolkata, and Chennai stood at Rs 87,990.

 

In Delhi, the price of ten grams of 24-carat gold stood at Rs 88,140.

 

   

In Mumbai, the price of ten grams of 22-carat gold is at par with Kolkata, Bengaluru, Chennai, and Hyderabad, at Rs 80,660.

 

In Delhi, the price of ten grams of 22-carat gold stood at Rs 80,810.

 

The price of one kilogram of silver in Delhi, Kolkata, and Mumbai stood at Rs 1,00,100.

  

The price of one kilogram of silver in Chennai stood at Rs 1,09,100.  US gold prices edged higher on Thursday as uncertainty over tariffs persisted, driving safe-haven demand, while a cooler-than-expected US inflation print also supported bullion by strengthening expectations of rate cuts.

 

Spot gold was up 0.4 per cent at $2,943.66 an ounce, as of 0300 GMT, while US gold futures firmed 0.2 per cent to $2,951.90.

 

"I think $3,000 is the next logical target, likely reached sometime over the next several months," said Marex analyst Edward Meir. "CPI data was encouraging but I suspect that the tariff increase has yet to be picked up in the inflation data."

 

Data showed that the US consumer price index increased less than expected last month, but the improvement is likely temporary against the backdrop of aggressive tariffs on imports that are expected to raise the cost of most goods in the months ahead.

 

Lower inflation leaves more room for the US Federal Reserve to cut interest rates, and non-yielding gold thrives in a low-interest rate setting.

 

Spot silver rose 0.1 per cent to $33.26 an ounce, platinum added 0.4 per cent to $987.90, and palladium gained 0.9 per cent to $957.60.

 

(with inputs from Reuters)