Indian bullion prices experienced a slight decline but continued to exhibit a bullish trend this week, influenced by uncertainty regarding the US Federal Reserve’s policy direction. The price of 24-carat gold (10 grams) began the week at Rs 1,13,498 on Monday, reached a notable peak of Rs 1,14,044 on Tuesday, and concluded the week at Rs 1,13,260, as per data from the India Bullion and Jewellers Association (IBJA). The yellow metal retained its status as a safe-haven asset, bolstered by global trade tensions, a weakening rupee, consistent purchases by central banks, and uncertainty surrounding the Fed’s policy direction. Silver also drew significant buyer interest, aided by robust industrial demand and supply-side limitations.
The price of silver was recorded at Rs 1,37,467 per kilogram at Friday’s market close, according to IBJA data. “Gold prices traded firmly at Rs 1,14,000 with a small gain of Rs 130 as Comex Gold remained stable, while the dollar showed slight gains and the rupee stayed flat at around 88.71,” stated Jateen Trivedi, VP Research Analyst, Commodity and Currency, LKP Securities.
