NEW DELHI— Precious metals continued their upward climb on Monday as global trade tensions intensified following recent tariff moves by U.S. President Donald Trump. Silver prices soared to a fresh all-time high, while gold also posted significant gains.
Silver surged by ₹3,577 to reach ₹1,13,867 per kilogram, up from ₹1,10,290 on Friday. This marks the second sharp increase in just a few days, after prices hit a record high last Friday. Prior to that, the previous all-time high for silver was ₹1,09,550 per kg, recorded on June 18.
Gold prices also rose across purity levels. According to the India Bullion and Jewellers Association (IBJA), the price of 24-carat gold jumped ₹792 to ₹98,303 per 10 grams, up from ₹97,511 on Friday. Similarly, 22-carat gold climbed from ₹89,320 to ₹90,045 per 10 grams, while 18-carat gold increased from ₹73,133 to ₹73,727 per 10 grams.
The IBJA updates gold and silver rates twice daily based on global trends and domestic market dynamics.
While gold prices have edged down slightly in the international market, silver has maintained a steady upward trajectory. Globally, silver rose 0.59% to $39.19 per ounce, while gold dipped 0.12% to $3,359.80 per ounce.
Analysts attribute the bullish sentiment in the bullion market to escalating global trade tensions, a weakening U.S. dollar, and a sliding Indian rupee, all of which have driven investors toward safe-haven assets like gold and silver.
“Renewed trade tensions—with the U.S. imposing additional tariffs on partners including the EU, Canada, and Mexico—alongside broad dollar weakness and a weakening rupee have made bullion an attractive safe-haven,” said Jateen Trivedi, VP and Research Analyst for Commodity and Currency at LKP Securities.
“Uncertainty remains elevated, which is supporting demand for gold. Market participants will be closely watching this week’s U.S. Consumer Price Index (CPI) data,” Trivedi added. “Technically, gold maintains a positive bias as long as it trades within the broader ₹97,500–₹99,500 range.” (Source: IANS)
