Gold prices in Delhi rose to ₹99,800 per 10 grams on Monday with the dollar weakening and rising US-China tariff tensions. The metal had settled in the last session at ₹98,150
📈Gold Price Update
Gold prices at ₹1 lakh levels in Delhi as the dollar loses strength
US-China tariff tensions create fresh market turmoil
Current price: ₹99,800 per 10 grams for 99.9% pure gold
Gold prices in Delhi almost reached the ₹1 lakh mark on Monday which was fueled by the weakening dollar as well as the increasing tensions between the US and China. All India Sarafa Association quoted 99.9% gold as ₹99,800 for 10 grams compared to Friday’s close of 98,150. The sharp move reflects the volatility in the commodities market, a reflection of overall economic uncertainty.
Simultaneously, the gold of 99.5% purity also reported a strong surge, increasing by ₹1,600 for 10 grams to a new high of ₹99,300 after closing at ₹97,700 for 10 grams during the last session. Since the start of the year, the gold prices have increased by ₹20,850, which is a remarkable return of 26.41% compared to last year’s closing prices.
Silver retrieved the same pattern and increased in price with the new value of ₹98,500 per kilogram as compared to ₹98,000 per kilogram on Friday.
As for the Multi Commodity Exchange (MCX), gold prices rose for June-delivery gold futures by ₹1,621 or 1.7\%, setting a new record at ₹96,875 per 10 grams. Additionally, spot gold also drew some attention hitting a new peak at USD 3,397.18 per ounce before slightly going down to 3,393.49.
Concerning the foreign markets, they have seen gold futures increase by USD 80 an ounce for the first time surpassing the crucial USD 3,400 mark which is an increase of 2.4%.
A decline in the US dollar value is the main cause for the increase in gold prices, making gold more appealing as a safe-haven investment. Also increasing the burden is the ongoing trade war between the US and China, further exacerbating market volatility. In these times, investors tend to shift towards gold, commonly viewed as a reliable asset during inflation.
This significant surge not only reflects the already fragile state of international markets, but also shows the prevailing economic sentiment. Investors are in the waiting period because of the uncertainty which means they are so fragile and volatile and observing gold’s movement will trigger a change in their investment plans.
