1 week ago
Gold and Silver Surge in Delhi Amid US-Iran Tensions
Gold and silver became more expensive in Delhi.
Gold rose to Rs 1,64,400 for 10 grams.
Silver rose to Rs 2,53,500 for one kilogram.
People often buy gold when they are worried about world events.
Tensions between the United States and Iran increased this demand for gold.
A weaker US dollar also helped gold prices rise.
Investors are waiting for new US inflation information.
They also want to know how the Federal Reserve may respond to higher oil prices and inflation.
Delhi gold prices rose Rs 900 to Rs 1,64,400 per 10 grams, a more than five-month high.
Silver gained Rs 3,500 to Rs 2,53,500 per kilogram, extending its rally to three sessions.
Gold benefited from firm international prices, a weaker US dollar and safe-haven demand.
Spot gold rose 1% to $4,646.54 per ounce, while international spot silver remained flat at $69.
Investors are watching US inflation data, oil prices and Federal Reserve signals for clues about bullion’s next move.
- Who
- Gold and silver traders and investors, with prices reported by the All India Sarafa Association.
- What
- Gold and silver prices rose sharply in Delhi, reaching more than five-month and four-month highs, respectively.
- Where
- Delhi’s bullion market, with international prices reported in global markets.
- When
- Gold rose from its previous close of Rs 1,63,500, while silver rose from Rs 2,50,000 in the previous session; upcoming US inflation data is also in focus this week.
- Why
- Prices were supported by US-Iran tensions, safe-haven demand, a weaker US dollar and firm international trends.
Key facts
- Delhi gold price
- Rs 1,64,400 per 10 grams for 99.9 percent purity, inclusive of taxes
- Gold daily rise
- Rs 900
- Delhi silver price
- Rs 2,53,500 per kilogram, inclusive of taxes
- Silver daily rise
- Rs 3,500
- International spot gold
- $4,646.54 per ounce after rising 1%, or $42.45
- International spot silver
- $69 per ounce, remaining flat
- Key upcoming indicator
- US Core Personal Consumption Expenditures data
- Key policy event
- Federal Reserve Chair Kevin Warsh’s debut at the Jackson Hole Symposium
Sources
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