New Delhi, April 3 – Gold prices in the national capital rose by Rs 200 on Thursday, reaching a new all-time high of Rs 94,350 per 10 grams, driven by continued buying from jewellers and stockists. The All India Sarafa Association provided this update, noting that demand remained strong despite global fluctuations.
On Wednesday, gold of 99.9 percent purity had settled at Rs 94,150 per 10 grams. Meanwhile, gold of 99.5 percent purity also reached a record high, rising by Rs 200 to Rs 93,900 per 10 grams.
In contrast, silver prices saw a sharp decline. After closing at Rs 1,01,500 per kilogram on Wednesday, silver dropped by Rs 1,000 to Rs 1,00,500 per kilogram.
Jatin Trivedi, Vice President of Research (Commodities and Currency) at LKP Securities, said that while gold initially surged during the morning session due to concerns around retaliatory tariffs, a wave of profit-booking soon pulled prices back.
In international markets, spot gold fell by $43.39 or 1.38 percent to $3,089.64 per ounce. On Wednesday, it had hit a new peak of $3,167.71 per ounce following US President Donald Trump’s announcement of tariffs on over 60 countries.
Soumil Gandhi, Senior Analyst (Commodities) at HDFC Securities, explained that the surge in gold was largely driven by safe-haven buying after Trump’s tariff announcement. However, despite the early gains, prices have since retreated due to profit-booking by traders.
In the Asian markets, spot silver plunged by 4.21 percent to $32.44 per ounce.
Chintan Mehta, CEO of Abans Financial Services, noted that investors are closely evaluating Trump’s new tariff policies and their potential impact on the global economy. He added that attention will also be focused on upcoming US data, including weekly jobless claims and the services PMI figures, which could offer further insights into the resilience of the American economy amid rising trade tensions.
