Gold and Silver Prices Surge Amid Global Trade Tensions

Gold and silver prices have climbed to new heights today, with gold reaching ₹87,990 per 10 grams for 24-carat and ₹80,660 for 22-carat in major Indian cities. The surge is attributed to escalating global trade tensions, as the U.S. imposed additional tariffs on Canadian, Mexican, and Chinese imports. In retaliation, these countries announced their own levies on U.S. goods. Silver also saw an increase, trading at ₹97,900 per kg. The precious metals' rise is further supported by a weakening U.S. dollar and growing safe-haven demand. Investors are closely watching the upcoming U.S. nonfarm payrolls report for insights into potential Federal Reserve policy changes. These developments underscore the metals' appeal as safe-haven assets during economic uncertainty.

 

Source: Financial Express