Gold price today in India stood at Rs 78,450 as of 6:45 a.m., according to the India Bullion Association. The price slipped by Rs 250 when compared to rates earlier this week. The rates had reached Rs 80,550 per 10 grams on Friday, at the national capital.
The rate at New Delhi stood at Rs 78,170, while the price in Kolkata was higher at Rs 78,210. In Bengaluru, the rates crossed Rs 78,370, according to the India Bullion Association. The rate was Rs 78,310 in Mumbai, while Chennai continued to see the highest rates in the country with prices at Rs 78,540.
“Gold extended its rally on Friday on the back of safe-haven demand due to uncertainty around future US monetary policy under President-elect Donald Trump,” Saumil Gandhi, senior analyst of commodities at HDFC Securities, said.
According to Augmont’s Head of Research, Renisha Chainani, gold continued its winning streak due to safe-haven demand sparked by worries about Donald Trump’s proposed policies, while the UK faced a budget crisis.
The tension of uncertainty in the global market is mirrored by the domestic market as well, ahead of Budget 2025. The demand for the precious metal had been pushed higher since the beginning of the month before the prices marginally cooled off today.
Global Rates And Futures
The future prices of gold for Feb. 2, 2025 stood at Rs 78,139, according to the Multi Commodity Exchange. Silver future prices for Feb. 5, 2025 stood at Rs 90,560, according to the MCX.
While, global rates pushed above the $2,660 ceiling to hit $2,673, according to the World Gold Council.
Silver Rates
Silver price stood at Rs 90,720 as of 6:45 a.m., according to the India Bullion Association.
The strong industrial demand for silver, fuelled by its importance in renewable energy technologies and electronics, has been driving up demand for silver as a safe-haven asset.
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