Gold bullion climbed over 0.6% on Tuesday to trade above $3,444 an ounce for the first time. This comes in addition to the 2.9% surge in gold price on Monday.
The surge in gold prices comes amid concerns due to friction between US President Donald Trump and Federal Reserve Chair Jerome Powell, which triggered a decline in US stocks, bonds and the dollar.
Gold price in India rose to Rs 97,560 per 10 grams as of 6:37 a.m. on April 22, according to the India Bullion Association. 24K gold on Monday had hit a lifetime high of Rs 98,350 per 10 grams.
Rates in New Delhi also saw a rise at Rs 97,220 per 10 grams, according to the association. The price in Mumbai was higher at Rs 97,380. In Kolkata, the rate rose to Rs 97,250. While in Bengaluru, the rate was at 97,460. With the price at Rs 97,670, Chennai continued to see the highest rate in the country.
The futures prices for the yellow metal on the Multi Commodity Exchange rose to Rs 97,352 for the June 5 futures. The gold price had crossed the Rs 97,000 per 10-gram mark for the first time on the MCX on Monday, touching fresh highs.
Silver Rates Today
Silver price also rose to Rs 95,720 after it crossed Rs 1 lakh last 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 price in India rose to Rs 97,560 per 10 grams as of 6:37 a.m. on April 22, according to the India Bullion Association. Read MoreMarkets, Business
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