According to the All India Sarafa Association, the yellow metal of 99.9 percent purity was closed at RS 1.13,200 per 10 grams on Thursday.
In the local Bullivenmarkt, the gold of 99.5 percent purity also increased by RS 700 to RS 1.13,500 per 10 grams (including all taxes). The precious metal was arranged in the previous trade on RS 1.12,800 per 10 grams.
“Gold exchanged positively in the last trade session of the week, with the general sentiment for precious metals that remain bullish. This optimism is driven by various bullish factors, including strong inflow into listed funds this year, and central banks actively buy gold.
“Meanwhile, expectations for extra interest reductions by the US Federal Reserve (FED) before the end of 2025, and a continuing demand for safe investments as a result of continuous geopolitical tensions and trade -related issues,” said Saumil Gandhi, senior analysts at HDFC Securice.
In addition, the silver prices extended the win for the second consecutive day by climbing RS 500 to RS 1.32,000 per kilogram (including all taxes) on Friday. The white metal had finished on Thursday at RS 1.31,500 per kg, according to the association. Traders said that geopolitical uncertainties have lifted the demand for safe port to the yellow metal, while renewed debates about the independence of the American Federal Reserve. However, a sturdy dollar acted as a headwind for the yellow metal and closed its win. At the world front, Spot rose by 0.18 percent on USD 3,651.18 per ounce, while Spot Silver rose almost 1 percent to USD 42.16 per ounce.
“Gold prices are retaining, whereby the focus now shifted to the most important American macro -economic data of next week, including BBP, PMI production and services and PCE Price Index – which will lead further trend,” said Jateen Trivedi, VP Research Analyst – Commodity and Currency, LKP Securities, said.
Renisha Chainani, head – research at Augmont, said: “Gold and silver prices came under pressure after the American Federal Reserve had lowered interest rates this week, but meant caution at the pace of future relaxation in the midst of concern about persistent inflation.
The FED on Wednesday resumed the rate reduction and opened the door for extra policy improvement, but the tempered guidance aroused doubts about how quickly further reductions would follow.
as a reliable and trusted news source“The rate reduction was a reaction to a weakening labor market in the US,” added Chainani.
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