The precious metal of 99.9 percent purity added RS 3,600 in the previous session to reach a new final peak of RS 1.02,620 per 10 grams.
In the national capital, gold of 99.5 percent also jumped with RS 800 to reach a new peak of RS 1.03,000 per 10 grams (including all taxes) on Friday, so that his earlier lifelong height of RS 1,02,200 per 10 grams was admitted after the Thursday session.
In the last five sessions, the yellow metal prices have risen with RS 5,800 per 10 grams.
“Gold prices rise after the US imposed a rate of 39 percent on 1 kg and 100-essce gold bars imported from Switzerland, disturbing an important supply route and injecting new volatility into the Bullivenmarkt.
“The reclassification of these bars under a taxable category ended their long -term exemption because Switzerland is an important refining hub and the move has created the uncertainty on the supply side and has brought the safe harbor interest in gold in gold in the middle of broader geopolitical tensions,” said CEO of Abans Financial Services. Silver prices also collected RS 1,000 to RS 1.15,000 per kilogram (including all taxes) on Friday. It was arranged on Thursday at RS 1.14,000 per kg, according to the association. The white metal has added RS 5,500 per kilogram in the last five sessions.
According to Saumil Gandhi, senior analyst, raw materials, HDFC Securities, the rally of Gold is fed by concerns about the global economic prospects, especially after the performance of the new rates of President Donald Trump on Thursday.
In addition, weak American macro -economic data has increased the expectations that the Federal Reserve will reduce interest rates in September, Gandhi said.
On the MCX, the most traded Gold Futures for October contracts appreciated RS 782 or 0.77 percent to reach a new peak of RS 1.02.250 per 10 grams.
Subsequently, the contracts of December RS 849 or 0.83 percent collected to reach a lifelong height of RS 1.03.195 per 10 grams on the stock exchange.
“Continued, the gold prices are expected to be turbulent because Trump’s tariff keeping continues, especially with the India deal that appears from the table for the time being. Any positive movement in the rupid could limit the benefit of Gold,” said Jateen TriveDedi, VP Research Analyst -Berdity and Currency said.
Silver futures for September contracts rose 554 or 0.48 percent to RS 1.14.840 per kilogram on the Multi -Commodity Exchange (MCX).
Spot Gold exchanges flat on USD 3,388.56 per ounce. During the day, the precious metal increased by USD 104.02 or 3.06 percent to reach a record high of USD 3,500.33 per ounce in New York.
“Gold reached a fresh high above USD 3,500, with the Bank of England reduced interest rates for the sixth time this year and unemployed claims that are increasing more than expected this week,” said Renisha Chainani, main research at Augmont.
In the meantime, Spot Silver Marginal went up to USD 38.28 per ounce on the international markets.
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