Gold prices increased by Rs 140 to Rs 88,100 per 10 grams in the national capital on Thursday, driven by strong trends in international markets, as per the All India Sarafa Association. The yellow metal, with 99.9% purity, had closed at Rs 87,960 per 10 grams on Wednesday. Similarly, gold of 99.5% purity rose by Rs 140 to Rs 87,700 per 10 grams, compared to the previous closing of Rs 87,560 per 10 grams.
Silver prices surged by Rs 800 to Rs 98,000 per kg on Thursday, up from Rs 97,200 per kg in the previous trading session. Investors remain concerned that trade tariffs imposed by US President may spark a global trade war, fueling demand for safe-haven metals like gold, according to Gandhi. In futures trade on the MCX, gold contracts for April delivery rose by Rs 364, reaching Rs 85,845 per 10 grams.
"Gold recovered from a recent swing bottom and traded higher on Thursday, as haven demand remains intact in response to multiple disruptive tariff announcements by President Trump that are scheduled to be implemented shortly," Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, said.