Bullion Booms: Gold Nears ₹1 Lakh, Silver Sprints Past ₹1.05 Lakh

Gold and silver prices surged higher in India on Friday, led by new safe-haven buying on the back of rising global trade tensions. The rally is as investors turn to safe-haven assets as a refuge from tariff uncertainty and geopolitical stress, taking bullion to new highs.

Key Highlights

99.9 percent gold purity rose by Rs 700 to Rs 99,370 a 10 grams in Delhi

99.5% pure gold went up by Rs 600 to Rs 98,800 per 10 grams

Silver prices rose by Rs 1,500 to Rs 1,05,500 per kilogram

Earlier closing prices were Rs 98,670 per gold and Rs 1,04,000 per silver

Global Drivers

US President Donald Trump on 1st August levied a 35% tariff on Canada imports

Other 15–20% blanket tariffs on other trading partners are also in the works

These movements have rekindled fears of a worldwide trade war, cutting risk appetite

Investors are turning to gold and silver as traditional hedge against volatility

Market Outlook

Foreign spot gold increased 0.74% to USD 3,348.67 an ounce

Spot silver rose 1.64% to USD 37.61 an ounce

Analysts forecast further action on the basis of subsequent US CPI and Fed rate indications

Domestic demand may continue to stay robust before the wedding and festival seasons

Investor Sentiment

Bullion dealers have more retail demand and bulk buying.

Traders seek additional gains if tensions in geopolitics persist

Gold-silver ratio correction is also propelling silver to outperform

Sources: Economic Times, Deccan Herald, Rediff Money, Daily Excelsior, HDFC Securities