Gold price in India rose to Rs 85,690 per 10 grams as of 6:40 a.m. on March 4, according to the India Bullion Association.
Rates in New Delhi stood at Rs 85,390 per 10 grams, while price in Mumbai was higher at Rs 85,540 on Tuesday. In Kolkata, the rate stood at Rs 85,420, while in Bengaluru the rate crossed Rs 85,600, according to the association. With the price at Rs 85,790, Chennai continued to see the highest rate in the country.
Gold prices rose by Rs 200 to Rs 87,900 per 10 grams in the national capital on Monday, driven by fresh buying from jewellers and retailers and a weak rupee, according to the All India Sarafa Association. The metal of 99.9% purity had closed at Rs 87,700 per 10 grams on Friday.
Gold of 99.5% purity also gained Rs 200 to Rs 87,500 per 10 grams from its previous close of Rs 87,300 per 10 grams. Silver prices increased by Rs 100 to Rs 96,500 per kg.
The rates had been on a decline since Feb. 26 and dropped to levels as low as Rs 84,450 on Feb. 28. These rates marked 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 Prices
Global spot gold prices were higher at $2,890, 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 85,420, according to the Multi Commodity Exchange. The silver futures price was at Rs 96,030.
Silver Rates
Silver price stood at Rs 85,690 as of 6:40 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.
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