Gold and silver hit record highs as prices surge amid global market trends | Check todays price
The downward movement of the US dollar also supported the rally in precious metals
PTC Web Desk: Gold prices soared by Rs 5,080 to reach an all-time high of Rs 1,12,750 per 10 grams in the national capital on Tuesday, following strong global cues. According to the All India Sarafa Association, 99.9% pure gold had closed at Rs 1,07,670 per 10 grams on Monday.
Silver also recorded a sharp rise, jumping Rs 2,800 to hit a record Rs 1,28,800 per kg (inclusive of all taxes) on Tuesday. In the previous session, silver had settled at Rs 1,26,000 per kg.
In global markets, gold touched an all-time high of $3,659.27 per ounce on Tuesday before trading slightly lower at $3,652.72 per ounce, marking a 0.46% increase. Analysts attributed the surge to weak US labor market data last week, which increased expectations of a possible monetary policy easing, prompting investors to turn to safe-haven assets like gold.
The downward movement of the US dollar also supported the rally in precious metals. The Dollar Index, which measures the greenback’s strength against a basket of six major currencies, was at 97.29, down 0.17%.