Gold and silver prices continued their upward trend on Monday amid rising geopolitical tensions, with 24-carat gold nearing ₹96,000 per 10 grams and silver surpassing ₹97,000 per kilogram.
According to the India Bullion Jewellers Association (IBJA), the 24-carat gold price rose by ₹342 to ₹95,813 per 10 grams in the last 24 hours.
The 22-carat gold price reached ₹87,765 per 10 grams, and 18-carat gold increased to ₹71,860 per 10 grams.
The price of silver jumped by ₹488, touching ₹97,397 per kilogram. IBJA releases spot market gold and silver prices twice daily.
Jatin Trivedi of LKP Securities said, “Gold is expected to trade between ₹95,000 and ₹96,500 in the coming sessions. Investors will track key US economic data, including manufacturing and services PMI, and new home sales figures.”
Internationally, gold and silver prices declined. Gold fell by 1.12 per cent to $3,355.55 an ounce, while silver dropped 0.26 per cent to $33.523 an ounce.
Analysts attribute this fall to US President Donald Trump’s decision to extend the deadline for trade talks with the European Union until 9 July.
Since 1 January, the price of 24-carat gold has surged by ₹19,651 or 25.80 per cent, rising from ₹76,162 to ₹95,813 per 10 grams.
Silver prices have increased from ₹86,017 to ₹97,397 per kg, up by ₹11,383 or 13.23 per cent.
Analysts expect ongoing global tensions to fuel safe-haven buying.
Prathamesh Mallya of Angel One stated that international gold prices could touch $3,500 an ounce, with MCX gold likely to reach ₹99,000 per 10 grams.
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