Latest news with #AllIndiaSarafaAssociation
Time of India
12 hours ago
- Business
- Time of India
Gold-silver rate today: Gold drops below Rs 1 lakh to Rs 99,960 per 10g; silver plunges Rs 2,000/kg as global investors cut bullion bets
Gold-silver rate today: Gold prices slipped below the Rs 1 lakh-mark, falling Rs 600 to Rs 99,960 per 10 grams in the national capital on Friday due to selling by jewellers and stockists in line with weak global cues, according to the All India Sarafa Association. The precious metal of 99.9 per cent purity had settled at Rs 1,00,560 per 10 grams in the previous market session. Gold of 99.5 per cent purity dipped Rs 550 to Rs 99,250 per 10 grams (inclusive of all taxes), compared to Rs 99,800 per 10 grams on Thursday. Silver prices also diminished by Rs 2,000 to Rs 1,05,200 per kilogram (inclusive of all taxes) on Friday. It had ended at Rs 1,07,200 per kg on Thursday. "Silver slid from recent highs, nearing one-week lows and heading for their first weekly decline in three weeks. It fell below $35.70 per ounce after a sharp rally earlier in the week," said Rahul Kalantri, Vice-President, Commodities at Mehta Equities. The decline came as investors liquidated positions in bullion to cover losses elsewhere amid rising geopolitical tensions between Israel and Iran. The Bank of England, in its monetary policy meeting on Thursday, also held rates steady, which limited the gains of precious metals. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Što je to umjetna inteligencija o kojoj svi pričaju? Courses AI Undo Kalantri added that intensifying conflict between Israel and Iran and weakness in the rupee are also supporting prices of gold and silver in domestic markets. On the global market, spot gold was trading at $3,353.67, lower by $16.72 per ounce, or 0.5 per cent. Spot silver fell 0.77 per cent to $36.10 per ounce in overseas markets. 'Traders will watch developments on US trade tariffs and Middle East military engagement will drive volatility. Any signs of de-escalation or non-involvement from the US in the Iran-Israel conflict could keep gold under pressure. On the other side, renewed tensions will continue to support prices,' said Jateen Trivedi, VP Research Analyst – Commodity and Currency, LKP Securities. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
The Print
2 days ago
- Business
- The Print
Silver rallies to hit fresh peak, gold gains Rs 540 as Israel-Iran conflict intensifies
On Friday, silver had revisited its previous all-time high of Rs 1,08,100 per kg. According to the All India Sarafa Association, the white metal had closed at Rs 1,07,200 per kg in the preceding session on Tuesday. New Delhi, Jun 18 (PTI) Silver prices rallied Rs 1,000 to hit a record high of Rs 1,08,200 per kilogram while gold gained Rs 540 to stay above Rs 1 lakh per 10 grams in the national capital on Wednesday as the Israel-Iran conflict intensified on its sixth day, driving investors to safe-haven assets. 'Silver prices extended gains and crossed USD 37 per ounce level in the international markets for the first time since February 2012. Weakness in the rupee is supporting bullion prices in the domestic markets,' Rahul Kalantri, Vice-President – Commodities, Mehta Equities, said. As per the Sarafa Association, the precious metal of 99.9 per cent purity climbed by Rs 540 to Rs 1,00,710 per 10 grams (inclusive of all taxes) on Wednesday. Gold of 99.5 per cent purity appreciated by Rs 500 to Rs 99,950 per 10 grams (inclusive of all taxes). On the Multi Commodity Exchange, the most traded August contract for gold futures was trading at Rs 99,411 per 10 grams, lower by Rs 130 per 10 grams. Additionally, silver futures for July contract jumped by Rs 753 to hit a lifetime high of Rs 1,09,748 per kg. Spot gold fell 0.23 per cent to USD 3,380.97 in the global markets. According to Kotak Securities, gold prices are holding below USD 3,400 per ounce, as dollar strengthened with traders focussing on escalating Middle East tensions. The brokerage firm said US President Donald Trump's call for Iran's unconditional surrender and discussions of potential strikes against Iranian leader Ayatollah Ali Khamenei have 'heightened fears of direct US involvement in the conflict', fuelling safe-haven demand among investors. In the international markets, spot silver rose 0.15 per cent to USD 37.18 per ounce. 'Market participants stay cautiously bullish in near term awaiting more cues from US FOMC (Federal Open Market Committee) meeting with interest rate decision due later tonight,' Maneesh Sharma, AVP – Commodities & Currencies at Anand Rathi Shares and Stock Brokers, said. PTI HG HVA This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Deccan Herald
2 days ago
- Business
- Deccan Herald
Silver rallies to hit fresh peak, gold gains Rs 540 as Israel-Iran conflict intensifies
According to the All India Sarafa Association, the white metal had closed at Rs 1,07,200 per kg in the preceding session on Tuesday.
Time of India
3 days ago
- Business
- Time of India
Silver rallies to hit fresh peak, gold gains Rs 540 as Israel-Iran conflict intensifies
Silver prices rallied Rs 1,000 to hit a record high of Rs 1,08,200 per kilogram while gold gained Rs 540 to stay above Rs 1 lakh per 10 grams in the national capital on Wednesday as the Israel-Iran conflict intensified on its sixth day, driving investors to safe-haven assets. According to the All India Sarafa Association, the white metal had closed at Rs 1,07,200 per kg in the preceding session on Tuesday. On Friday, silver had revisited its previous all-time high of Rs 1,08,100 per kg. "Silver prices extended gains and crossed USD 37 per ounce level in the international markets for the first time since February 2012. Weakness in the rupee is supporting bullion prices in the domestic markets," Rahul Kalantri, Vice-President - Commodities, Mehta Equities, said. As per the Sarafa Association, the precious metal of 99.9 per cent purity climbed by Rs 540 to Rs 1,00,710 per 10 grams (inclusive of all taxes) on Wednesday. Live Events Gold of 99.5 per cent purity appreciated by Rs 500 to Rs 99,950 per 10 grams (inclusive of all taxes). On the Multi Commodity Exchange, the most traded August contract for gold futures was trading at Rs 99,411 per 10 grams, lower by Rs 130 per 10 grams. Additionally, silver futures for July contract jumped by Rs 753 to hit a lifetime high of Rs 1,09,748 per kg. Spot gold fell 0.23 per cent to USD 3,380.97 in the global markets. According to Kotak Securities, gold prices are holding below USD 3,400 per ounce, as dollar strengthened with traders focussing on escalating Middle East tensions. The brokerage firm said US President Donald Trump 's call for Iran's unconditional surrender and discussions of potential strikes against Iranian leader Ayatollah Ali Khamenei have "heightened fears of direct US involvement in the conflict", fuelling safe-haven demand among investors. In the international markets, spot silver rose 0.15 per cent to USD 37.18 per ounce. "Market participants stay cautiously bullish in near term awaiting more cues from US FOMC (Federal Open Market Committee) meeting with interest rate decision due later tonight," Maneesh Sharma, AVP - Commodities & Currencies at Anand Rathi Shares and Stock Brokers, said.
The Print
3 days ago
- Business
- The Print
Gold declines Rs 1,200/10 g amid weak global trends
Gold of 99.5 per cent purity dipped below the Rs 1 lakh mark, by falling Rs 1,100 to Rs 99,450 per 10 grams (inclusive of all taxes). It had settled at Rs 1,00,550 per 10 grams on Monday. The precious metal of 99.9 per cent purity had closed at Rs 1,01,370 per 10 grams in the previous market session. New Delhi, Jun 17 (PTI) Gold prices declined by Rs 1,200 to Rs 1,00,170 per 10 grams in the national capital on Tuesday due to continuous selling by jewellers and stockists in line with weak global trends, according to the All India Sarafa Association. 'Gold corrected further on Tuesday as traders reevaluated the likelihood of a full-scale regional war between Israel and Iran. This shift follows reports suggesting that Iran is actively pursuing a diplomatic resolution to its escalating conflict with Israel. 'The potential for a fragile truce has fostered a bearish sentiment among gold traders,' Saumil Gandhi, Senior Analyst – Commodities at HDFC Securities, said. However, silver prices went up by Rs 100 to Rs 1,07,200 per kilogram (inclusive of all taxes) on Tuesday. The white metal had ended at Rs 1,07,100 per kg in the previous market close. Globally, spot gold was trading lower at USD 3,380.65 per ounce. 'Gold is trading negative despite escalation of conflict in the Middle East and the precious metal witnessed profit taking at higher levels by the investors,' Rahul Kalantri, Vice-President, Commodities at Mehta Equities, said. Meanwhile, spot silver went up 0.44 per cent to USD 36.47 per ounce in the international markets. Kalantri further said silver prices also came off day's high ahead of the US Federal Reserve's monetary policy meeting. However, global uncertainty and geopolitical tensions could support the prices of precious metals. Abans Financial Services' Chief Executive Officer Chintan Mehta said, 'On the economic front, investors will watch for US macro data, including May's retail sales and industrial production data later in the day to gauge the strength of the US economy'. PTI HG DR This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
