Gold Rate Today: Latest Updates and Insights
Gold Prices Rise Amid Global Uncertainties
Gold prices in Delhi went up by Rs 250 on Thursday. They settled at Rs 98,670 per 10 grams. This rise is due to renewed interest from investors and stockists. Global economic uncertainties are also a factor, according to the All India Sarafa Association.
Current Rates
- Gold of 99.9% purity rose to Rs 98,670 per 10 grams, up from Rs 98,420 on Wednesday.
- Gold of 99.5% purity increased by Rs 200 to Rs 98,200 per 10 grams.
- Silver remained steady at Rs 1,04,000 per kilogram, including all taxes.
Expert Insights
Saumil Gandhi, Senior Analyst at HDFC Securities, noted that gold traded higher on Thursday. He said, “Ongoing uncertainties surrounding US trade policies and their potential impact on the global economy supported gold prices.”
Global Market Trends
In global markets, spot gold saw a slight increase. It reached $3,324.40 per ounce. The upward trend in gold prices was further supported by geopolitical signals. This includes President Trump’s announcement of a 50% tariff on Brazilian goods starting August 1.
Federal Reserve’s Cautious Stance
Minutes from the latest Federal Open Market Committee (FOMC) meeting showed a cautious stance by US Federal Reserve officials. Chintan Mehta, CEO of Abans Financial Services, said the Fed is expected to wait for more economic data before considering any rate cuts.
Mehta also mentioned, “Higher-than-expected crude oil inventories have kept energy prices in check, easing inflation concerns. This combination of a patient Fed and cooling inflation supports the case for eventual interest rate cuts. This continues to favor gold by reducing the opportunity cost of holding non-yielding assets.”
Future Outlook
With both domestic and international factors aligning in favor of gold, analysts expect strong investor interest in the yellow metal to continue in the near term.
