Data from the India Bullion and Jewellers Association (IBJA) showed spot silver opening at a new high of ₹2,00,750 per kg
The white metal, at the time of writing this article, was changing hands at $57.14, down 2.3 per cent for the day as investors book profit after a stunning 8-day rally
The yellow metal, at the time of writing this article, was trading at $4,213, up nearly 0.2 per cent for the day, even as the US yields firmed up
Gold and silver prices jumped sharply as global markets bet on an imminent US interest rate cut and a shift in Federal Reserve leadership. Here’s what is driving the rally
Gold prices rallied by Rs 1,300 to Rs 1,25,900 per 10 grams in the national capital on Monday amid strong global cues and a weak dollar, according to the All India Sarafa Association. The precious metal of 99.5 per cent purity climbed by Rs 1,300 to Rs 1,25,300 per 10 grams (inclusive of all taxes) against Rs 1,24,000 per 10 grams on Friday. In the local bullion market, gold of 99.9 per cent purity had settled at Rs 1,24,600 per 10 grams in the previous market session. "Gold resumed trading on a positive note, supported by ongoing safe-haven demand and weaker US macroeconomic data that heightened expectations for a rate cut by the Federal Reserve in next month's meeting," Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, said. He noted that a softer dollar has provided further support for bullion. In addition, silver prices bounced by Rs 2,460 to Rs 1,55,760 per kilogram (inclusive of all taxes) on Monday. The white metal had finished at Rs 1,53,300 per kg on Friday,
London market tightness is expected to ease as silver starts flowing from New York. However, demand remains quite strong as reflected by huge ETF inflows
Silver trading strategy: The metal, at the time of writing, was trading at $36.75, up 1 per cent on the day, while the corresponding MCX Silver contract, gaining 1.45 per cent was noted at ₹1,08,825
Silver price today: At the time of writing this article, spot silver was changing hands at $36.42, down around 1 per cent on the day
Gold price outlook: Strong ETF inflows, weaker US Dollar, weak US data and shaky Iran-Israel ceasefire are positive for the yellow metal in the near-term
The price of 22-carat gold also stumbled ₹10, with ten grams of the yellow metal selling at ₹90,690
The price of 22-carat gold rose ₹10, with ten grams of the yellow metal selling at ₹90,910
The price of 22-carat gold rose ₹10, with ten grams of the yellow metal selling at ₹90,810
The price of 22-carat gold rose ₹10, with ten grams of the yellow metal selling at ₹89,210
New rules tighten ways how precious metals can enter the market. Here's what investors need to know about the changes.
The price of 22-carat gold fell ₹10, with ten grams of the yellow metal selling at ₹86,090
The price of 22-carat gold climbed ₹10, with ten grams of the yellow metal selling at ₹88,790
The price of 22-carat gold climbed ₹10, with ten grams of the yellow metal selling at ₹90,760
The price of 22-carat gold rose ₹10, with ten grams of the yellow metal selling at ₹89,810
Analysts at brokerage firm Motilal Oswal Financial Services maintain a positive long-term outlook on gold, recommending investors to "buy on dips" with a target price of ₹1,06,000
The price of 22-carat gold rose ₹10, with ten grams of the yellow metal selling at ₹89,210