Gold Price Surges to ₹99,300 per 10g, Silver Crosses ₹1 Lakh Mark Amid Retail Buying : New Delhi, May 26: Gold prices jumped by ₹550 to reach ₹99,300 per 10 grams in the national capital on Monday, driven by sustained demand from jewellers and retailers, as per the All India Sarafa Association. The yellow metal of 99.9% purity had closed at ₹98,750 on Friday. Since Wednesday last week, gold prices have risen by a total of ₹2,760 per 10 grams.
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Gold of 99.5% purity also witnessed a significant rise, gaining ₹500 to settle at ₹98,800 per 10 grams, inclusive of all taxes.
Silver prices recorded a strong rally as well, soaring by ₹1,170 to touch ₹1,00,370 per kilogram. In the previous session, silver had ended at ₹99,200 per kg.
International Market Update:
In contrast, spot gold prices in the international market dipped by USD 24.83 per ounce, or 0.74%, to settle at USD 3,332.59 per ounce.
According to Rahul Kalantri, Vice-President of Commodities at Mehta Equities Ltd, “Gold saw a pullback globally as safe-haven demand weakened after US President Donald Trump deferred the imposition of a 50% tariff on EU goods, pushing the deadline to July 9.”
Meanwhile, Saumil Gandhi, Senior Analyst – Commodities at HDFC Securities, noted that traders are closely watching the upcoming US Federal Reserve’s FOMC meeting minutes, scheduled for release on Wednesday, for potential insights into future interest rate cuts.