Golden peaks RS 2,200 to hit a new high of RS 1.16,200/10 g in Delhi, while strong global signals drive rally

The golden prizes rose 2,200 to reach a new peak of RS 1.16,200 per 10 grams in national capital on Monday stimulated by strong global signals, because investors were waiting for an important commentary of American fed officials for policy direction.

According to the All India Sarafa Association, the precious metal of 99.9 percent purity was closed on RS 1.14,000 per 10 grams on Friday.

In the local Bullivenmarkt, gold of 99.5 percent purity RS 2,150 collected to reach a record high of RS 1.15.650 per 10 grams (including all taxes). It was regularly on RS 1.13,500 per 10 grams in the previous market session.

“Both gold and silver traded at record levels on the domestic markets, where the bullish trend is followed in international markets.

“A Dovish signal of the American Federal Reserve (FED) suggests that two additional tariff reductions are probably at the end of this year, which could limit the profit in the US dollar and treasury yield, while the prices for precious metal are reinforced,” said Saumil Gandhi, Senior Analyst -Stuignstar.

In addition, a strong inflow into listed funds and persistent interest rate from central banks also contributed to the rise in rubble prices, Gandhi added. The prices for precious metals have added RS 37,250 per 10 grams or 47.18 percent in the current calendar year, climbing of RS 78,950 per 10 grams on December 31, 2024. In the meantime, the silver prices rise with RS 4,380 to get a very high of RS 1.36.380 per kilogram (inclusive of all Taxogram. The white metal had finished on RS 1.32,000 per kg on Friday, according to the association.

So far in this year, the silver prices have zoomed in RS 46,680 per kilogram or 52.04 percent, which collect on December 31, 2024 of RS 89,700 per kg.

At the world front, Spot rose more than 1 percent to reach a record peak of USD 3,728.43 per ounce.

“Spotgoud rose further to a new all -time of USD 3,728 per ounce, while investors are waiting for various federal open market committee (FOMC) officials later on the day and the most important speech by Jerome Powell on Tuesday for additional policy guidelines,” said Kaynat Chainwala, Kotak Securice.

Praveen Singh, head of raw materials and currencies of Mirae Asset Sharekhan, said: “Investors will keep a close eye on the speech of Fed Governor Stephen Miran in the Economic Club of New York. US PMIS DATA Report will be released on the monetary outlook on Tuesday.”

Spot Silver traded 1.19 percent higher on USD 43.61 per ounce. It reached an intra-day high from USD 43.80 per ounce.

“Strong basic principles supported the silver prices, in which a tight range helps to maintain upward momentum. On the demand side, robust consumption of the sectors offered solar, electric vehicles and electronics extra support,” said Jigar Trivedi, senior research analyst at Reliance Securities.