Silver and gold prices rose Friday, helped by sustained safe-haven demand amid lingering geopolitical risks.
Silver gained 6.42% to ₹3,18,960 per kg in the retail market, recovering from the previous day’s fall. Gold rose 3% to ₹1,55,428 per 10 gm. With goods & services tax of 3%, a consumer has to shell out ₹1,60,090 per 10 gm of gold and ₹3,28,528 per kg of silver.
In the international market gold and silver surged to fresh all-time highs, with gold touching $4,970 a troy ounce and silver hitting $99.2 per troy ounce, marking also their strongest weekly performance since March 2020.
Volatility in prices is keeping consumers away from the physical market for the previous metals, putting the small and medium jewellers in trouble.
Market sentiment has been influenced also by US President Donald Trump’s statement that he had secured permanent US access to Greenland through a NATO deal, though details remain unclear, and Denmark has reiterated its sovereignty. Trump also cancelled proposed tariffs on European imports, with the EU agreeing to suspend countermeasures while seeking clarity on future policy direction.
Expectations of monetary easing in the US have also grown, as Trump is expected to appoint the next Federal Reserve chair, with markets pricing in a dovish candidate.
