NEW DELHI — Gold prices rose by Rs 50 to revisit the all-time high level of Rs 96,450 per 10 grams in the national capital on Tuesday, according to the All India Sarafa Association.
On Monday, the yellow metal of 99.9 per cent purity fell by Rs 50 to settle at Rs 96,400 per 10 grams.
Gold of 99.5 per cent purity increased Rs 50 to reclaim its all-time high level of Rs 96,000 per 10 grams against the previous close of Rs 95,950 per 10 grams.
Meanwhile, silver prices climbed by Rs 2,500 to Rs 97,500 per kg on the back of fresh industrial demand.
The white metal had declined by Rs 500 to close at Rs 95,000 per kg on Monday.
Globally, spot gold appreciated by USD 13.67 or 0.43 per cent to USD 3,224.60 per ounce. Also, Comex gold futures for June delivery went up 0.47 per cent to USD 3,241.50 per ounce.
“Gold prices remain steady near all-time highs, buoyed by a weakening dollar and persistent uncertainty surrounding US trade policy,” Chintan Mehta, Chief Executive Officer at Abans Financial Services, said.
The US Federal Reserve Chair Jerome Powell’s upcoming press conference on Wednesday will be in focus, with investors seeking signals on how the central bank may respond if trade tensions intensify or economic conditions weaken, Mehta added.
Spot silver in the Asian market hours fell marginally at USD 32.32 per ounce.
According to HDFC Securities’ Senior Analyst of Commodities Saumil Gandhi, traders are now looking towards US macro data, including the NY Empire State Manufacturing Index to be release later on Tuesday.
Further, market participants will also be awaiting for speeches from the Federal Open Market Committee (FOMC) member Thomas Barkin and European Central Bank (ECB) President Christine Lagarde for more insights.
However, the major focus remains on tariff-related headlines which could affect bullion prices, Gandhi said. — (PTI)