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TMI BlogGold, silver rally Rs 1,300 to hit record levels in Delhi amid strong global cuesX X X X Extracts X X X X X X X X Extracts X X X X ..... Gold, silver rally Rs 1,300 to hit record levels in Delhi amid strong global cues X X X X Extracts X X X X X X X X Extracts X X X X ..... According to the All India Sarafa Association, the precious metal of 99.9 per cent purity, extending gains for the fourth day in a row, rallying Rs 1,300 to hit a fresh peak of Rs 90,750 per 10 grams. It had closed at Rs 89,450 per 10 grams on Thursday. Gold of 99.5 per cent purity zoomed Rs 1,300 to establish an lifetime high of Rs 90,350 per 10 grams from Thursday's closing level of Rs 89, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 050 per 10 grams. According to HDFC Securities' Senior Analyst, Commodities, Saumil Gandhi, several factors have contributed to the record-breaking rally in precious metals, including buying by central banks and global economic instability. Further, the demand for safe haven assets increased due to the trade and economic policies of US President Donald Trump, which in turn increased economic u ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ncertainty worldwide, Gandhi said. So far this year, the yellow metal prices had climbed Rs 11,360, or 14.31 per cent, to Rs 90,750 from Rs 79,390 per 10 grams on January 1. On Friday, the bullion markets were closed on the occasion of Holi festival. Silver prices also surged Rs 1,300 to hit a fresh all-time high level of Rs 1,02,500 per kg. The white metal had concluded at Rs 1,01,200 per k ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g on Thursday. Meanwhile, gold futures for April delivery inched up Rs 13 to Rs 88,004 per 10 grams on the Multi Commodity Exchange. On Friday, the yellow metal had hit a record peak of Rs 88,310 per 10 grams on the commodities bourse. In the international markets, spot gold appreciated USD 14.48 to USD 2,998.90 per ounce. It had breached the psychological mark of USD 3,000 an ounce on Friday. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... On similar lines, Comex gold futures were trading higher at USD 3,007 per ounce. On Friday, it had hit a record high of USD 3,017.10 per ounce. "Gold prices remain near record highs as expectations of further US Fed interest rate cuts strengthen, fuelled by cooling inflation," Chintan Mehta, Chief Executive Officer at Abans Financial Services Ltd, said. Mehta further said, geopolitical risk ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s have strengthened bullion prices after the US confirmed it would continue strikes against Yemen's Houthis until they cease attacks on Red Sea shipping, escalating tensions in the region. "Investors will closely monitor the US retail sales data to be release later on Monday. They will also await for the Federal Open Market Committee (FOMC) meeting starting from Tuesday for insights into the Fed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 's monetary policy stance," he added. PTI HG TRB X X X X Extracts X X X X X X X X Extracts X X X X
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