New Delhi, Sep 13
Gold and silver prices continued their upward march this week, scaling fresh all-time high as concerns over US tariffs and heightened geopolitical tensions kept safe-haven demand strong.
According to data from the Indian Bullion and Jewellers Association (IBJA), 24-carat gold closed at Rs 1,09,707 per 10 grams on Friday, registering a sharp gain of Rs 1,670 from Monday’s level of Rs 1,08,037. The rally pushed gold prices firmly above the Rs 1 lakh mark throughout September, with rates standing at Rs 1,04,075 on September 1.
Similarly, 22-carat gold prices also surged, ending the week at Rs 1,00,492 per 10 grams, compared to Rs 98,962 at the beginning of the week.
On the futures front, gold contracts with October 3 expiry settled at Rs 1,09,356 per 10 grams on Friday, up 0.34 per cent, reflecting sustained optimism in the bullion market.
"Gold stayed positive with gains of 0.35 per cent at Rs 1,09,350 as Comex traded firm at $3647, factoring in expectations of a Fed rate cut next week to support the US economy," said Jateen Trivedi of LKP Securities.