Global spot gold prices rose to hit a new record high of $3,190 per ounce after it closed over 3% higher in the previous session. This rise came after US President Donald Trump announced a 90-day tariff pause on higher levies that hit dozens of trade partners, with duties on all Chinese imports now rising to 145%.
Spot gold on Thursday rose over 3.26% to trade at $3,079.5 per troy ounce, while the metal’s futures on the Commodities Exchange Inc. rose 3.17% to $3,085.1 an ounce. The price of the yellow metal crossed $3,000 an ounce for the first time ever on March 14, driven higher by a central bank buying spree and economic fragility worldwide.
The gold price in India rose to Rs 92,170 per 10 grams as of 6:40 a.m. on April 11, according to the India Bullion Association, after it touched new highs last week.
Rates in New Delhi also saw a rise at Rs 91,840 per 10 grams, according to the association. The price in Mumbai was higher at Rs 92,000. In Kolkata, the rate rose to Rs 91,880. While in Bengaluru, the rate was at 92,070. With the price at Rs 92,270, Chennai continued to see the highest rate in the country.
The futures prices for the yellow metal on the Multi Commodity Exchange were volatile, as the price stands at Rs 92,050 for the June 5 futures.
Silver Rates Today
Silver price also rose to Rs 92,030 after it crossed Rs 1 lakh earlier this month, 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.Gold prices in India surged to Rs 92,170 per 10 grams on April 11, according to the India Bullion Association, as global spot gold reached a record $3,190 per ounce following a US tariff pause. Read MoreMarkets, Business
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