Gold Price Today: Yellow metal prices surge by Rs 1,550/10 gm this week, silver up by Rs 1,850/kg
silver March futures contracts were trading slightly higher at Rs 93,453/kg, up by 0.13% or Rs 125.
Ahead of the Union Budget 2025, due to be presented later today, gold, on MCX, made yet another new all-time high of Rs 82,600/ 10 g on Friday and has surged by Rs 1,550/10 gram in this week alone. Meanwhile, silver prices have gone up by Rs 1,850/kg.
On Friday, the gold April futures contract settled at Rs 82,233 per 10 grams while silver March futures contract settled at Rs 93,328 per kilogram.
The prices of gold have soared, supported by investor demand for safe-haven assets following renewed tariff threats by the US leader against Mexico and Canada, and potential tariffs against China.
The precious metal is on a five-week winning streak, as these threats raise concerns about trade wars and their impact on economic growth. Furthermore, accommodative monetary policies from major central banks, including the ECB's expected rate cuts and the Bank of Canada's end to quantitative tightening, along with earlier cuts by the Riksbank, have bolstered gold's upward momentum.
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