Due to geopolitical tensions and the rupee’s decline, gold prices in Delhi rose for the second consecutive day. Gold prices surpassed ₹1.63 lakh (approximately $1.63 lakh). Silver prices, on the other hand, remained unchanged. Experts expect gold and silver prices to rise in the coming days, primarily due to uncertainty over tariffs.
On the other hand, investors are closely watching Trump’s speech on February 24th, during which he may make a significant statement on tariffs. If Trump remains firm in his stance on tariffs, gold and silver prices could rise in the coming days. Let us explain why gold and silver prices in Delhi are likely to rise.
How much more expensive has gold become in Delhi?
According to local market experts, the price of gold in the national capital rose by ₹400 to ₹1,63,200 per 10 grams on Tuesday, driven by continued buying by stockists and a weakening rupee. On Monday, the precious metal with 99.9 percent purity closed at ₹1,62,800 per 10 grams. However, silver prices remained unchanged at ₹2,72,000 per kilogram (including all taxes).
Traders said that increased buying by local jewellers and stockists boosted gold prices in the domestic market, while international precious metal prices declined. In the international market, spot gold fell 1.35 per cent to USD 5,157.16 per ounce, while silver was flat at USD 88.19 per ounce. Analysts said the weakening rupee made gold more expensive for holders of other currencies, mitigating the impact of the decline in global prices.
Gold and silver prices are falling on MCX.
Meanwhile, gold and silver prices are falling on the country’s futures market, the Multi-Commodity Exchange. Gold prices fell by ₹1,724 at 7:05 pm to trade at ₹1,59,874 per ten grams. During the trading session, gold prices fell by ₹1,724 to reach a low of ₹1,59,690. Silver prices, on the other hand, fell by ₹4,739 to trade at ₹2,60,594 per kilogram. Silver prices had reached a low of ₹2,58,594 during the trading session.
