New Delhi, April 15: Gold prices in the national capital rose by Rs 50 on Tuesday, reaching an all-time high of Rs 96,450 per 10 grams amid global market trends and continued investor interest. The All India Sarafa Association reported the increase after gold of 99.9 percent purity closed at Rs 96,400 per 10 grams on Monday following a marginal drop.
Gold of 99.5 percent purity also climbed Rs 50 to reach its highest-ever level of Rs 96,000 per 10 grams, up from the previous closing of Rs 95,950 per 10 grams. The upward momentum in gold prices was mirrored by silver, which saw a sharp rise of Rs 2,500, taking it to Rs 97,500 per kilogram. This surge came after silver fell by Rs 500 a day earlier, ending at Rs 95,000 per kilogram.
Globally, spot gold advanced by $13.67 or 0.43 percent to reach $3,224.60 per ounce. Market analysts attributed the stability near record highs to the weakening of the US dollar and persistent uncertainties surrounding US trade policies.
Chintan Mehta, CEO of Abans Financial Services, explained that the market is holding steady ahead of US Federal Reserve Chair Jerome Powell’s upcoming press conference, where investors hope to gain clarity on the central bank’s stance in case of escalating trade tensions or a slowdown in economic activity.
Meanwhile, in Asian markets, spot silver experienced a slight dip, settling at $32.32 per ounce. Soumil Gandhi, Senior Commodities Analyst at HDFC Securities, noted that market participants are closely watching the release of key US macroeconomic indicators, including the NY Empire State Manufacturing Index, due later in the day.
Gandhi added that attention is also on forthcoming speeches from Federal Open Market Committee member Thomas Barkin and European Central Bank President Christine Lagarde. However, he emphasized that developments related to global tariff policies remain a crucial factor in determining future movements in precious metal prices.
