Gold edges up to Rs 88,790 per 10 g, silver drops by Rs 350

New Delhi, Mar 11 (PTI) Snapping its three-day losing run, gold rebounded to Rs 88,790 per 10 grams in the national capital on Tuesday amid firm global trends, according to the All India Sarafa Association.

The precious metal of 99.9 per cent purity rose by Rs 40 to Rs 88,790 per 10 grams from the last close of Rs 88,750 per 10 grams.

Gold of 99.5 per cent also went up by Rs 40 to Rs 88,390 per 10 grams.

However, silver prices declined by Rs 350 to Rs 98,900 per kg. The white metal had settled at Rs 99,250 per kg on Monday.

Comex gold futures for April delivery rose by USD 19.30 or 0.67 per cent to USD 2,918.70 per ounce in the global markets. Meanwhile, spot gold advanced 0.82 per cent to USD 2,912.43 per ounce.

"Gold traded higher as dollar index weakness and escalating tariff concerns in the US signalled economic uncertainty. Safe-haven buying remained strong, with ETF inflows supporting the bullish sentiment," Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities, said.

Comex silver futures in the Asian market hours traded 1.44 per cent higher at USD 33 per ounce.

According to HDFC Securities' Senior Analyst of Commodities Saumil Gandhi, market participants continue to monitor President Donald Trump's comments and assess how the tariff battle will play out in the near future.

"On the macro front, US job opening data will be released later on Tuesday," Gandhi said. PTI HG HG MR MR

Source: PTI