Gold price in India was lower at Rs 86,470 per 10 grams as of 7:10 a.m. on March 12, according to the India Bullion Association.
The rates in New Delhi stood at Rs 86,170 per 10 grams, according to the association. The price in Mumbai was higher at Rs 86,320. In Kolkata, the rate stood lower at Rs 86,200. While in Bengaluru the rate crossed Rs 86,390. With the price at Rs 86,570, Chennai continued to see the highest rate in the country.
Gold prices rebounded on Tuesday after three continuous sessions of losses, tracking firm global cues, according to the All India Sarafa Association. The yellow metal rose by Rs 40 to Rs 88,790 per 10 grams in the national capital, up from Monday’s close of Rs 88,750. Gold of 99.5% purity also gained Rs 40, settling at Rs 88,390 per 10 grams.
In contrast, silver extended its decline, slipping by Rs 350 to Rs 98,900 per kg. The white metal had closed at Rs 99,250 per kg in the previous session.
Global And Futures Rates
Global spot gold prices fell to $2,914, according to the World Gold Council. The rates have been hovering over highs, with tension around Trump’s tariffs, that were pushed higher by other countries announcing retaliatory tariffs as well.
The previous high recorded for the global rate was $2,954 on Feb. 24, according to WGC. The futures prices for April 4 stood lower at Rs 86,144, according to the Multi Commodity Exchange.
Silver Rates
Silver price stood at Rs 98,320 as of 7:10 a.m., according to the India Bullion Association. 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.With gold price at Rs 86,570, Chennai continued to see the highest rate in the country. Read MoreMarkets, Business, Notifications
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