{"id":284264,"date":"2025-04-17T14:50:32","date_gmt":"2025-04-17T14:50:32","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2025\/04\/17\/gold-hits-new-record-of-rs-98170-per-10g-in-delhi-amid-global-uncertainty-silver-slumps-rs-1400-times-of-india\/"},"modified":"2025-04-17T14:50:33","modified_gmt":"2025-04-17T14:50:33","slug":"gold-hits-new-record-of-rs-98170-per-10g-in-delhi-amid-global-uncertainty-silver-slumps-rs-1400-times-of-india","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2025\/04\/17\/gold-hits-new-record-of-rs-98170-per-10g-in-delhi-amid-global-uncertainty-silver-slumps-rs-1400-times-of-india\/","title":{"rendered":"Gold hits new record of Rs 98,170 per 10g in Delhi amid global uncertainty; silver slumps Rs 1,400 – Times of India"},"content":{"rendered":"
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Gold prices in the national capital surged by Rs 70 on Thursday to touch a new record high of Rs 98,170 per 10 grams, tracking firm global cues, according to the All India Sarafa Association.The previous session had already seen a sharp rise of Rs 1,650, pushing the precious metal of 99.9 per cent purity to Rs 98,100 per 10 grams.
Similarly, gold of 99.5 per cent purity also gained Rs 70, reaching a new high of Rs 97,720 per 10 grams, up from Wednesday\u2019s closing price of Rs 97,650, as news agency PTI reported.
“Gold prices soared to record highs, fuelled by a weaker dollar, escalating trade war tensions, and growing concerns over global economic growth following US President Donald Trump’s tariff announcements,” said Chintan Mehta, Chief Executive Officer at Abans Financial Services.
He added, “Gold prices continue to surge as global uncertainty persists, with the US-China trade war<\/a> disrupting supply chains and stoking fears of inflation and recession. As markets grapple with these risks, volatility remains elevated, reinforcing gold’s role as a reliable hedge.”
“Adding to the bullish sentiment, major banks have turned increasingly positive on gold, pointing to broad-based sell-offs in equities, bonds, and currencies, alongside steady inflows into gold-backed ETFs<\/a> and sustained central bank buying,” Mehta further noted.
In contrast, silver witnessed a sharp correction. Prices dropped by Rs 1,400 to Rs 98,000 per kilogram, after having closed at Rs 99,400 per kilogram in the previous session.
On the international front, spot gold initially rallied to a new record high of USD 3,357.81 per ounce but later trimmed gains to trade at USD 3,328.84 per ounce.
“Gold extended gains, hitting a fresh all-time high…after the US Federal Reserve Chair Jerome Powell warned that uncertainty over US trade policy could weigh on the economy, dampening global risk appetite,” said Kaynat Chainwala, AVP-Commodity Research at Kotak Securities.
Spot silver in the Asian market also came under pressure, falling 1.37 per cent to USD 32.32 per ounce.
Looking ahead, investors are closely watching key U.S. macroeconomic data, including initial jobless claims and the Philadelphia Fed manufacturing index, expected later on Thursday.
“Apart from this, market participants will also be awaiting the European Central Bank’s (ECB) policy decision later in the day for further impetus on the interest rate cycle, amid tariff worries from the US,” noted Saumil Gandhi, Senior Analyst \u2013 Commodities at HDFC Securities.<\/div>\n