Gold and silver prices continued their upward march in India today, tracking global cues where the bullion scaled $4,000/ounce peak for the first time.
Gold prices have smashed past the $4,000/ounce mark for the first time. (AFP)
Gold Price In India Today
Gold price in India rose for the third consecutive day, gaining ₹2,600 to hit a fresh record high of ₹1,26,600 per 10 grams in New Delhi. The yellow metal has added ₹6,000 in the past three days.
According to the All India Sarafa Association, gold of 99.9% purity had closed ₹700 higher at ₹1,24,000 per 10 grams on Tuesday, a day after registering a steep surge of ₹2,700 on Monday.
On Wednesday, the yellow metal of 99.5% purity appreciated by ₹2,600 to touch an all-time high of ₹1,26,000 per 10 grams (inclusive of all taxes) in the local bullion market. It had settled at ₹1,23,400 per 10 grams in the previous market session.
City
Gold Rate Per 10 Gm
New Delhi
₹1,22,103
Mumbai
₹1,22,057
Kolkata
₹1,22,055
Chennai
₹1,22,211
Bengaluru
₹1,22,045
Pune
₹1,22,063
Ahmedabad
₹1,22,111
Hyderabad
₹1,20,809
Silver Price In India Today
Silver prices in India surged by ₹3,000 to trade near its record high at ₹1,57,000 per kg (inclusive of all taxes) on Wednesday. The white metal had ended at ₹1,54,000 per kg on Tuesday.
The white metal had hit a record high of ₹1,57,400 per kilogram on Monday.
Globally, spot silver rose more than 2% to hit a high of $48.99 per ounce.
City
Silver Rate Per Kg
Ahmedabad
₹ 1,08,800
Bangalore
₹ 1,09,200
Chennai
₹ 1,20,700
Delhi
₹ 1,10,200
Hyderabad
₹ 1,21,400
Mumbai
₹ 1,11,500
Pune
₹ 1,12,500
Kolkata
₹ 1,11,000
Bullion's Bull Run
Gold prices smashed through $4,000 an ounce for the first time, as concerns over the US economy and a government shutdown added fresh momentum to a scorching rally.
It’s a milestone for bullion, which traded below $2,000 just two years ago, with returns that now outstrip those for equities this century. The gold price has jumped more than 50% this year in the face of uncertainties over global trade, the US Federal Reserve’s independence and US fiscal stability.
Heightened geopolitical tensions have also boosted demand for haven assets this year, while central banks have continued to buy the precious metal at an elevated pace.