Gold Prices Surge Amid Market Uncertainty, Silver Sees Marginal Decline

Image Source : Times of India

Gold prices in India witnessed a sharp rise on June 2, reflecting heightened investor demand amid global economic uncertainties. Meanwhile, silver prices saw a slight dip, indicating mixed trends in the bullion market.

Key Developments in Gold and Silver Prices
- The price of 24-carat gold increased to 97,640 rupees per 10 grams, marking a notable uptick from the previous day
- 22-carat gold also saw a rise, reaching 89,500 rupees per 10 grams in major cities like Mumbai and Delhi
- Silver prices, however, declined by 100 rupees per kilogram, settling at 99,800 rupees in Mumbai
- On the Multi Commodity Exchange, gold futures traded higher by 0.4 percent, while silver futures saw a marginal increase of 0.34 percent

Market Trends and Influencing Factors
- The surge in gold prices is attributed to ongoing geopolitical tensions and fluctuations in the US dollar
- Investors are turning to gold as a safe-haven asset amid uncertainties in global trade and economic policies
- Silver’s slight decline is linked to profit-booking by traders and adjustments in industrial demand
- International gold prices also saw an upward trend, with spot gold rising by 0.5 percent to 3,305.85 dollars per ounce

Future Outlook and Investment Sentiment
- Analysts expect gold prices to remain strong in the near term, driven by inflation concerns and central bank policies
- Silver may see further fluctuations depending on industrial demand and global economic indicators
- Investors are advised to monitor market trends closely and consider diversification strategies for their portfolios

Source : News18, GoodReturns, Republic World.