The yellow metal touched a record of ₹ 99,100 for 10 grams for the first half in the morning trade, but cool the partial profits due to the weak demand | Photo credit: Siddhant Thakur
Gold prices won more on Tuesday to reach a new maximum of ₹ 98,484 for 10 GMs against ₹ 96,670 registered on Monday, after the company’s trend in international markets.
The yellow metal touched a record record of ₹ 99,100 grams for the first half in the morning trade, but resigned from partial gains due to the weak demand, according to the data of the Association of Stock Exchange and Jewers of India.
With the addition of 3 percent of GST, gold prices in national markets have already crossed the ₹ 1 Lakh brand to play ₹ 1.01 Lakh.
In MCX, the gold of futures for the delivery of December was negotiated to ₹ 99,298 for 10 grams, while the June contracts were negotiated to ₹ 97,279 after reaching a maximum of ₹ 99,358.
Spot Gold Gold Gold Gold A record of $ 3,473 per ounce. US gold futures rose 1.7 percent to $ 3,482 per ounce.
Commercial uncertainties
The Rally In Gold was promoted by the growing global uncertainty, with the president of the United States, Donald Trump, renewing criticism or the president of the Federal Reserve, Jerome Powell. Trump demanded the trimmed cuts and warned about a possible economic slowdown in the United States. Trump’s comments added pressure to a US dollar already weak, which increases the demand for gold.
Colin Shah, MD, Kama Jewelry said that in addition to the president of the United States, he comments on the head of the United States Fed, there are uncertainties that are won around the US-China commercial war that is carrying the gold prices of the safe hand to a record.
“As the global economic development unfolds, we project the price of gold to violate the $ 3,600 per ounce in the duration of the international market for fiscal year 2016,” he said.
At the national level, he said that the sentimental and cultural value associated with investing in yellow metal sometimes auspicious such as Akshaya Tritiya will maintain the optimistic demand, regardless of the price trend.
Buyers interest
Manav Modi, a senior analyst, basic products research, Motilal Oswal Financial Services said Gold recorded profits or about 20 percent marking a historical maximum both in MCX and in Comex. The rhythm and volatility in gold prices this year has been more clear than most asset classes, Hey added.
Sachin Jain, Regional CEO, India, the World Golden Council said that the Golden State as a refuge is at its highest point, and it is anticipated that the Indians continue to buy gold this Akshaya Tritiya, regardless of price fluctuation.
Industry comments suggest a strong interest from the buyer in various gold shapes, including golden keys of older carats, ETF of gold, digital gold and coins and bars, solidifying even more the gold role in Indian homes, he said.
Despite external factors such as uncertainties related to the rate, gold jewel retailers are a behavior of aboubule well supplied and optimistic, he said.
Posted on April 22, 2025
