Related News

China EV maker BYD says new cars can be charged in 5 minutes

Chinese electric vehicle maker BYD says its new cars can be charged in almost the same time it takes to refill a gas engine vehicle at the pump, giving the

Stock market today: Live updates

Traders work on the floor of the New York Stock Exchange on March 17, 2025. NYSE Stocks edged lower Tuesday as a sell-off that has engulfed Wall Street in recent

‘DOGE broke into our building’: Trump administration ousts US Institute of Peace’s leadership

United State Institute of Peace The US administration dismissed most members of the US Institute of Peace (USIP) board and installed a new leader at its Washington headquarters on Monday,

Trump and Putin speak in high-stakes call

What to watch for in Trump-Putin talks What to watch for in Trump-Putin talks over Ukraine ceasefire deal 05:36 Washington—President Trump and Russian President Vladimir Putin are speaking by phone

Mahmoud Khalil: Mahmoud Khalil’s wife ‘as bad as her husband’, her child should be taken away the moment she gives birth: MAGA activist

Mahmoud Khalil’s wife Noor Abdalla came under ‘unhinged’ MAGA attack. As the White House is all set to deport Mahmoud Khalil, a Columbia University student whom the Donald Trump administration

Sunita Williams’ ancestral village in Gujarat offers prayers, plans ‘Diwali like celebrations’ to welcome her return to Earth | India News

Nasa astronaut Sunita Williams‘ ancestral village in Gujarat‘s Mehsana district is preparing for “grand celebrations, resembling Diwali”, on Wednesday morning as she is set to return to Earth after a

Gold and silver prices surge to record highs amid global uncertainty

Word Count: 679 | Estimated Reading Time: 4 minutes

Gold and silver prices reached fresh record levels on Monday, surging by Rs 1,300 each, driven by strong global market trends amid rising concerns over US tariffs, trade tensions, and expectations of monetary policy easing by the Federal Reserve.
According to the All India Sarafa Association, gold of 99.9% purity surged by Rs 1,300, hitting an all-time high of Rs 90,750 per 10 grams, compared to the previous close of Rs 89,450 per 10 grams on Thursday.
Gold of 99.5% purity also jumped by Rs 1,300, reaching a record high of Rs 90,350 per 10 grams from the previous closing price of Rs 89,050 per 10 grams, news agency PTI reported.
Saumil Gandhi, Senior Analyst, Commodities at HDFC Securities, attributed the record-breaking rally in precious metals to several factors, including central bank buying and global economic instability.
He noted that increasing demand for safe-haven assets due to trade and economic policies under US President Donald Trump had heightened economic uncertainty, driving up gold prices.
So far this year, gold prices have climbed Rs 11,360, or 14.31%, from Rs 79,390 per 10 grams on January 1 to Rs 90,750 per 10 grams. The bullion market had remained closed on Friday for the Holi festival.
Silver prices also surged by Rs 1,300, reaching a new record of Rs 1,02,500 per kg, up from Rs 1,01,200 per kg on Thursday.
Meanwhile, gold futures for April delivery rose by Rs 13 to Rs 88,004 per 10 grams on the Multi Commodity Exchange, following a record peak of Rs 88,310 per 10 grams on Friday.
In international markets, spot gold climbed by USD 14.48 to USD 2,998.90 per ounce, having breached the USD 3,000 per ounce mark on Friday. Comex gold futures also traded higher at USD 3,007 per ounce, after hitting a record high of USD 3,017.10 per ounce on Friday.
Chintan Mehta, CEO of Abans Financial Services Ltd, stated that gold prices remain near record highs due to growing expectations of further US Federal Reserve interest rate cuts, fuelled by cooling inflation. He also pointed to geopolitical tensions, including US strikes on Yemen’s Houthis, which have escalated regional risks and further supported bullion prices.
Investors are closely monitoring the Federal Open Market Committee (FOMC) meeting starting on Tuesday for further insights into the Fed’s monetary policy direction.