While not as volatile as equities, gold’s role is different: it offers financial stability during global uncertainty.
While not as volatile as equities, gold’s role is different: it offers financial stability during global uncertainty.Gold prices in Delhi surged close to the Rs 1 lakh mark, driven by a weakened dollar and ongoing US-China tariff tensions. According to the All India Sarafa Association, gold of 99.9 per cent purity was priced at Rs 99,800 per 10 grams on Monday. This follows a decline where the price closed at Rs 98,150 per 10 grams last Friday. The fluctuating gold prices underscore the persistent volatility in the commodities market amid broader economic uncertainties.
Meanwhile, 99.5% pure gold experienced a significant rise, jumping Rs 1,600 to reach a new high of Rs 99,300 per 10 grams, following a slight dip to Rs 97,700 per 10 grams at the previous market close. Since the beginning of the year, the price of gold has surged by Rs 20,850, reflecting a remarkable 26.41% increase per 10 grams from the close of last year.
In addition to gold, silver prices also saw an uptick, rising Rs 500 to Rs 98,500 per kg, having traded at a stable Rs 98,000 per kg on Friday.
On the Multi Commodity Exchange, June delivery gold futures surged by Rs 1,621, marking a 1.7 percent increase and reaching a new high of Rs 96,875 per 10 grams. In international markets, spot gold also made headlines, climbing to a record peak of USD 3,397.18 per ounce before slightly retreating to USD 3,393.49 per ounce.
On a global scale, gold futures broke through the significant USD 3,400 threshold for the first time, soaring by USD 80 per ounce, which is a 2.4 percent rise.
The appreciation in gold price is largely attributed to the weak US dollar, which has increased the appeal of gold as a safe haven. The ongoing tariff conflict between the United States and China further exacerbates market uncertainties, contributing to the upward pressure on gold prices. Such volatility in the global market typically pushes investors towards gold, traditionally seen as a stable investment. This rise in gold prices is a significant marker of current market dynamics and economic sentiment.
As the gold price trends reflect ongoing economic challenges, stakeholders are keenly observing these movements for future investment strategies.
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