Gold soars ₹1,650 to scale fresh peak of ₹98,100 per 10 gm; silver jumps ₹1,900

On the worldwide entrance, spot gold rose to contact a file excessive of $3,318 per ounce. Later, it pared some good points to commerce at $3,299.99 per ounce. File
| Photo Credit: Reuters

Gold costs soared by ₹1,650 to hit an all-time excessive of ₹98,100 per 10 gm within the nationwide capital on Wednesday (April 16, 2025) amid a world rush for safe-haven shopping for triggered by an escalated commerce conflict between the U.S. and China.

According to the All India Sarafa Association, the dear steel of 99.9% purity had completed at ₹96,450 per 10 gm on Tuesday (April 15, 2025.)

Gold of 99.5% purity additionally appreciated by ₹1,650 to hit a fresh peak of ₹97,650 per 10 gm towards the earlier shut of ₹96,000 per 10 gm. Additionally, silver costs climbed by ₹1,900 to ₹99,400 per kg. The white steel had closed at ₹97,500 per kg on Tuesday (April 15, 2025.)

On the worldwide entrance, spot gold rose to contact a file excessive of $3,318 per ounce. Later, it pared some good points to commerce at $3,299.99 per ounce.

“Gold surged to a record high, driven by growing trade war concerns after the U.S. government tightened export rules to China,” Kaynat Chainwala, AVP-Commodity Research, Kotak Securities, stated.

President Donald Trump has introduced an investigation into whether or not tariffs are wanted on crucial minerals, additional fuelling market anxiousness. On Wednesday (April 16, 2025), the U.S. administration additional raised tariffs on most items from China to 245%.

According to Abans Financial Services’ Chief Executive Officer Chintan Mehta, gold costs hit file highs because the U.S. greenback index slipped beneath the 100-mark, nearing three-year lows. He stated the upswing in gold is fuelled by rising expectations of a possible rate of interest minimize, with markets carefully watching the U.S. Federal Reserve Chair Jerome Powell’s speech to come later within the day.

“As the Federal Reserve navigates the twin challenge of supporting economic growth while managing tariff-driven inflation, the current macro environment continues to offer strong support for gold. “Adding to the bullish momentum, main banks stay constructive on gold’s outlook, citing continued inflows into gold-backed ETFs and sustained central financial institution shopping for,” Mr. Mehta said. Spot silver in the Asian market hours rose nearly 2% to $32.86%.