New Delhi, March 27 – Gold prices in the national capital climbed by Rs 365 on Thursday, reaching Rs 91,050 per 10 grams, supported by strong global cues. According to the All India Sarafa Association, gold of 99.9 percent purity had closed at Rs 90,685 per 10 grams on Wednesday. Similarly, gold with 99.5 percent purity also witnessed a gain of Rs 365, closing at Rs 90,600 per 10 grams, compared to the previous close of Rs 90,235.
As per agency report, Soumil Gandhi, Senior Analyst – Commodities at HDFC Securities, attributed the rise in gold prices to heightened global risk sentiment following the new auto tariff announcement by US President Donald Trump on Wednesday.
Silver prices also surged by Rs 200 to close at Rs 1,01,700 per kilogram, up from Rs 1,01,500 in the previous session.
In the international market, spot gold increased by $34.77, nearing a record high at $3,054.05 per ounce. Jatin Trivedi, Vice President Research Analyst – Commodities & Currencies at LKP Securities, noted that the drop in US GDP figures and the possibility of retaliatory tariffs from April 2 have pushed gold prices close to $3,050 per ounce.
He added that the rise in geopolitical tensions, including new US threats against the Eurozone amid potential support for Canada, has further intensified demand for safe-haven assets like gold.
Chintan Mehta, CEO of Abans Financial Services, said that lingering concerns over Trump’s policies and ongoing accumulation of gold reserves by central banks as a hedge against economic and geopolitical instability have kept the demand for the precious metal strong. He emphasized that with escalating geopolitical risks, gold continues to shine as the preferred safe-haven asset.
Investors are now awaiting the release of the US Personal Consumption Expenditures (PCE) data on Friday, a key indicator for the US Federal Reserve’s monetary policy direction. Additionally, market participants will be closely monitoring upcoming speeches by various Federal Reserve officials for further insights into the future policy outlook.
