Precious metals reached record levels this week as investors sought safety amid trade tensions and global uncertainties. The Indian Bullion and Jewellers Association reported 24-carat gold climbing to Rs 1,09,707 per 10 grams by Friday. This represented a Rs 1,670 increase from Monday's opening price of Rs 1,08,037. Silver followed the same upward pattern, finishing at Rs 1,28,008 per kilogram after gaining Rs 3,595 during the week. Both metals maintained strong positions above key psychological price levels throughout September.
International markets supported domestic gains as Comex gold traded at $3,680.7 per ounce. Analysts expect the rally to persist due to Federal Reserve rate cut speculation and ongoing geopolitical risks. LKP Securities noted that gold remains positive despite overbought conditions, with markets anticipating a 0.50 percent rate reduction. The precious metal continues trading within a range of Rs 1,07,000 to Rs 1,12,000. Economic uncertainty and tariff concerns reinforce bullion's appeal as a safe-haven asset.
International markets supported domestic gains as Comex gold traded at $3,680.7 per ounce. Analysts expect the rally to persist due to Federal Reserve rate cut speculation and ongoing geopolitical risks. LKP Securities noted that gold remains positive despite overbought conditions, with markets anticipating a 0.50 percent rate reduction. The precious metal continues trading within a range of Rs 1,07,000 to Rs 1,12,000. Economic uncertainty and tariff concerns reinforce bullion's appeal as a safe-haven asset.
