Latest news with #SarafaAssociation
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.
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Business Standard
06-05-2025
- Business
- Business Standard
Gold price jumps ₹2,400 to ₹99,750-10g ahead of US Fed policy decision
Gold prices surged Rs 2,400 to Rs 99,750 per 10 grams in the national capital on Tuesday due to persistent buying by jewellers and stocks, according to the All India Sarafa Association. On Monday, the precious metal of 99.9 per cent purity had ended at Rs 97,350 per 10 grams. Extending the gains for the third straight day, gold of 99.5 per cent purity jumped Rs 2,400 to Rs 99,300 per 10 grams on Tuesday. It had closed at Rs 96,900 per 10 grams in the previous close. "Gold prices edged higher as safe-haven demand returned following President Donald Trump's announcement of fresh tariff plans. "The proposed measures include duties on pharmaceutical imports and a steep 100 per cent tariff on movies produced outside the United States -- a move that stoked concerns over renewed trade tensions and their potential impact on global growth," Abans Financial Services' Chief Executive Officer Chintan Mehta said. As per the Sarafa Association, silver prices also climbed Rs 1,800 to Rs 98,500 per kg. According to experts, market participants will focused on Wednesday's outcome of the US Federal Reserve's FOMC (Federal Open Market Committee) policy meeting and Fed Chair Jerome Powell's commentary on growth and inflation. Meanwhile, the most traded June contract for gold futures rallied Rs 1,951, or 2.06 per cent, to Rs 96,600 per 10 grams on the Multi Commodity Exchange. Globally, spot gold sprinted higher by USD 45.65, or 1.37 per cent, to USD 3,379.77 per ounce. "Gold reclaimed the USD 3,350-level on Tuesday as safe haven flows lent support for precious metals for the second consecutive day amid geopolitical worries stemming from the prolonged Russia-Ukraine war, ongoing conflicts in the Middle East, and fresh tensions between India and Pakistan, which lifted the safe-haven precious metal. "Additionally, weakness in the US dollar also benefits the precious metals and contributes to the uptrend," Saumil Gandhi, Senior Analyst of Commodities at HDFC Securities, said. Spot silver in the overseas markets increased 1.64 per cent to USD 33 per ounce.
Business Mayor
05-05-2025
- Business
- Business Mayor
Gold jumps Rs 550 to Rs 97,350/10 gm; silver declines Rs 400
Gold prices rose Rs 550 to Rs 97,350 per 10 grams in the national capital on Monday amid rise in precious metal rates in the global markets. According to the All India Sarafa Association, the precious metal of 99.9 per cent purity had closed at Rs 96,800 per 10 grams on Friday. Gold of 99.5 per cent purity also appreciated Rs 550 to Rs 96,900 per 10 grams on Monday. The yellow metal had settled at Rs 96,350 per 10 grams in the previous market session. Meanwhile, the most traded June contract for gold futures rallied Rs 1,663, or 1.8 per cent, to Rs 94,300 per 10 grams on the Multi Commodity Exchange. However, silver prices declined Rs 400 to Rs 96,700 per kg from the previous close of Rs 97,100 per kg, as per the Sarafa Association. Spot gold in the international markets rose USD 46.34, or 1.43 per cent, to USD 3,286.83 per ounce. 'Gold surged to USD 3,280 per ounce on a softer dollar ahead of the upcoming US Fed's two-day Federal Open Market Committee (FOMC) policy meeting starting on Tuesday. '…market participants are cautiously eyeing Fed Chair Jerome Powell's post-decision press conference. Further, uncertainty around US-China trade developments is likely to keep risk sentiment cautious,' Kaynat Chainwala, AVP of Commodity Research at Kotak Securities, said. Spot silver climbed 1.24 per cent to USD 32.41 per ounce. READ SOURCE
News18
05-05-2025
- Business
- News18
Gold Price In Delhi Jumps Rs 550 To Rs 97,350 Per 10 Grams; Silver Declines Rs 400
Gold of 99.5 per cent purity in the national capital also appreciates by Rs 550 to Rs 96,900 per 10 grams on Monday. Gold prices rose Rs 550 to Rs 97,350 per 10 grams in the national capital on Monday amid rise in precious metal rates in the global markets. According to the All India Sarafa Association, the precious metal of 99.9 per cent purity had closed at Rs 96,800 per 10 grams on Friday. Gold of 99.5 per cent purity also appreciated Rs 550 to Rs 96,900 per 10 grams on Monday. The yellow metal had settled at Rs 96,350 per 10 grams in the previous market session. Meanwhile, the most traded June contract for gold futures rallied Rs 1,663, or 1.8 per cent, to Rs 94,300 per 10 grams on the Multi Commodity Exchange. However, silver prices declined Rs 400 to Rs 96,700 per kg from the previous close of Rs 97,100 per kg, as per the Sarafa Association. Spot gold in the international markets rose $46.34, or 1.43 per cent, to $3,286.83 per ounce. 'Gold surged to $3,280 per ounce on a softer dollar ahead of the upcoming US Fed's two-day Federal Open Market Committee (FOMC) policy meeting starting on Tuesday. '…market participants are cautiously eyeing Fed Chair Jerome Powell's post-decision press conference. Further, uncertainty around US-China trade developments is likely to keep risk sentiment cautious," Kaynat Chainwala, AVP of Commodity Research at Kotak Securities, said. Spot silver climbed 1.24 per cent to $32.41 per ounce. First Published: May 05, 2025, 15:41 IST
Time of India
05-05-2025
- Business
- Time of India
Gold jumps Rs 550 to Rs 97,350/10 gm; silver declines Rs 400
Gold prices rose Rs 550 to Rs 97,350 per 10 grams in the national capital on Monday amid rise in precious metal rates in the global markets. According to the All India Sarafa Association , the precious metal of 99.9 per cent purity had closed at Rs 96,800 per 10 grams on Friday. Gold of 99.5 per cent purity also appreciated Rs 550 to Rs 96,900 per 10 grams on Monday. The yellow metal had settled at Rs 96,350 per 10 grams in the previous market session. Meanwhile, the most traded June contract for gold futures rallied Rs 1,663, or 1.8 per cent, to Rs 94,300 per 10 grams on the Multi Commodity Exchange. However, silver prices declined Rs 400 to Rs 96,700 per kg from the previous close of Rs 97,100 per kg, as per the Sarafa Association. Spot gold in the international markets rose USD 46.34, or 1.43 per cent, to USD 3,286.83 per ounce. "Gold surged to USD 3,280 per ounce on a softer dollar ahead of the upcoming US Fed's two-day Federal Open Market Committee (FOMC) policy meeting starting on Tuesday. "...market participants are cautiously eyeing Fed Chair Jerome Powell's post-decision press conference. Further, uncertainty around US-China trade developments is likely to keep risk sentiment cautious," Kaynat Chainwala, AVP of Commodity Research at Kotak Securities, said. Spot silver climbed 1.24 per cent to USD 32.41 per ounce.
