According to the All India Bullion Association, New Delhi, 18 February (PTI) Gold prices rose by Rs 300 to Rs 300 per 10 grams in the national capital in the national capital.
On Monday, the precious metal of 99.9 percent purity was Rs 88,200 per 10 grams.
Gold of purity of 99.5 percent to Rs 88,100 per 10 grams.
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Silver prices also increased from Rs 98,200 per kg to Rs 800 per kg.
In futures trade on MCX, gold contracts increased by Rs 435 to Rs 85,490 per 10 grams for April delivery.
“Gold continued its positive tendency, which was consistently inspired by global uncertainty on tariffs. With maintaining high allocation for safe-heaven assets with banks and funds, gold is well-supported, ”Jetten Trivedi, VP Research Analyst-Commodity and Currency, LKP Securities, said.
Trivedi said that the Federal Reserve and RBI meeting will add market volatility to the upcoming sessions on Wednesday with minutes with minutes.
Silver Futures also appreciated Rs 439 per kg on the Multi Commodity Exchange (MCX) for March delivery.
In international markets, Comex Gold futures for April delivery climbed US $ 2,925.64 an ounce in global markets, global markets.
“COMEX is trading above USD 2,925 as investors continue to monitor tension between the US and the European Union, as well as development in Ukraine peace talks,” said AVP-Commodity Research Chenwala in Kotak Securities.
Meanwhile, spot gold in foreign markets increased by about 16 USD to USD 2,912.50 an ounce.
“Gold received a nominal position on Tuesday, maintained its position as a primary safe-horn property and an attractive inflation rescue.
Senior analyst of Commodities of HDFC Securities, Saumil Gandhi said, “However, further benefits were reduced due to the Hawkish comment of Fed Member Patrick Harkar, who had advocated on Monday night to keep the interest rates unchanged for the Central Bank unchanged for the Central Bank on Monday night . “
Comex Silver Futures kept 0.47 per cent high at 0.47 per cent of the Asian market hours at 0.47 per cent of the Asian market hours.
On Monday, the Ministry of Commerce said that its gold imports in January increased by 40.79 percent to increase domestic demands to USD 2.68 billion.
According to data from the Ministry of Commerce, gold imports in January 2024 were US $ 1.9 billion.
During this financial year during April-January, imports increased by 32 percent to 37.85 billion USD to 50 billion in the same period in the same period.
Increase in imports also indicates strong investors in precious metal as a safe property. Other reasons include asset diversification of gold due to global uncertainties, increasing demand from banks and cutting customs. PTI HG TRB
This report is auto-generated with PTI News Service. ThePrint does not have any responsibility for its content.