Gold Prices Rise Again Amid Fed Rate Cut Expectations, Silver Rates Dip
The sharp uptick comes in response to rising global tensions and expectations of rate cuts in the United States.
New Delhi: Gold prices in the national capital surged by ₹850, reaching ₹99,340 per 10 grams on Thursday, amid firm trends in international markets. The sharp uptick comes in response to rising global tensions and expectations of rate cuts in the United States.
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Domestic Market Sees Sharp Rise in Gold Rates
According to the All India Sarafa Association, gold of 99.5% purity also jumped by ₹800 to ₹98,800 per 10 grams, inclusive of all taxes.
Meanwhile, silver prices slipped by ₹100, settling at ₹1,07,000 per kilogram.
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MCX Gold Futures Rally Strongly
On the Multi Commodity Exchange (MCX), gold futures saw notable gains:
- August delivery contracts rose by ₹1,585, trading at ₹98,289 per 10 grams
- October delivery contracts climbed ₹1,520, reaching ₹99,214 per 10 grams
Global Tensions and US Data Fuel Gold Rally
The surge in gold prices was attributed to escalating US-Iran tensions and softer-than-expected US inflation data, which strengthened expectations of interest rate cuts by the Federal Reserve.
“Gold prices surged higher on Thursday as escalating US-Iran tensions reignited safe-haven demand,” said Sriram Iyer, Senior Research Analyst at Reliance Securities.
International Gold and Silver Trends
In the international market:
- Spot gold rose USD 15.74 (0.47%) to USD 3,370.87 per ounce
- Spot silver dipped by 0.54%, trading at USD 36.05 per ounce
“Gold is trading higher on renewed safe-haven demand spurred by US President Donald Trump’s tariff announcement,” said Kaynat Chainwala, AVP-Commodity Research at Kotak Securities.
Market Awaits Key US Economic Data
Analysts believe that upcoming US economic reports, including the Producer Price Index (PPI) and Weekly Initial Jobless Claims, will influence further price movements.
“Traders are closely watching macroeconomic indicators from the US,” said Saumil Gandhi, Senior Analyst–Commodities at HDFC Securities.
