Gold price in India rose to Rs 84,460 per 10 grams as of 7:00 a.m. on March 3, according to the India Bullion Association.
Rates in New Delhi stood at Rs 84,460 per 10 grams, while price in Mumbai was higher at Rs 84,310 on Monday. In Kolkata, the rate stood at Rs 84,200, while in Bengaluru the rate crossed Rs 84,380, according to the association. With the price at Rs 84,560, Chennai continued to see the highest rate in the country.
On Feb. 20, gold of 99.9% and 99.5% purity hit all-time highs of Rs 89,450 and Rs 89,050 per 10 grams, respectively. On Tuesday, the Rupee fell sharply by 51 paise against the US dollar. This slip was due to month-end dollar demand by importers, further supported by the uncertainty over US trade tariffs.
The rates have been on a decline since Feb. 26 as rates dropped to levels as low as Rs 84,450 on Feb. 28. This marks the first significant slip in gold prices this year, as the prices have dropped by Rs 4,990 from the last record high.
Global And Futures Price
Global spot gold prices were higher at $2,867, according to the World Gold Council. The global rates have been hovering over highs, with tension around Trump’s tariffs, that were pushed higher by other global cues.
The previous high recorded for the global rate was $2,954 on Feb. 24, according to WGC. The futures prices for April 4 stood at Rs 84,202, according to the Multi Commodity Exchange. The silver futures price was at Rs 94,210, according to MCX.
Silver Rates
Silver price stood at Rs 94,270 as of 7:00 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 the surge.
. Read more on Markets by NDTV Profit.Gold price in India rose to Rs 84,460 per 10 grams as of 7:00 a.m. on March 3. Read MoreMarkets, Business, Notifications
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