Gold prices rise in Delhi, silver crosses Rs 2.70 lakh mark

Gold and silver prices have once again gained momentum in the national capital, Delhi. Gold prices have surpassed ₹1.60 lakh. Silver prices, on the other hand, have seen a rise of ₹8,000 per kilogram. 

Experts say the US Supreme Court's repeal of Trump's tariffs, followed by the swift imposition of a 15% global tariff on the entire world, has created considerable uncertainty. 

Furthermore, the lack of agreement on the nuclear deal has significantly increased tensions between Iran and the US, leading to a surge in gold and silver prices. Let us also tell you how much gold and silver prices have reached in the national capital, Delhi.

Gold and silver become expensive in Delhi

According to the All India Sarafa Association, silver rose by Rs 8,000, or 3.03%, to Rs 2,72,000 per kg (including all taxes) from Friday's closing level of Rs 2,64,000 per kg. 

Meanwhile, 99.9% purity gold rose by Rs 3,300, or 2.06%, to Rs 1,62,800 per 10 grams (including all taxes). It had closed at Rs 1,59,500 per 10 grams in the previous market session. 

Silver and gold continued their upward trend on Monday, with both metals trading at three-week highs, supported by renewed safe-haven demand.

Why did gold and silver increase?

Saumil Gandhi, Senior Analyst for Commodities at HDFC Securities, said the rally came after the US Supreme Court delivered a key ruling against Trump's tariffs, leading to sharp cross-asset volatility and investors seeking safe-haven assets. 

In response to this decision, US President Donald Trump moved swiftly to maintain his trade agenda by announcing an increase in global tariff rates from 10% to 15% on Saturday. 

Gandhi further noted that the sudden policy shift has increased global uncertainty, with many governments around the world reacting cautiously—some confirming trade agreements, while others awaiting Washington's next steps.

Gold and silver prices in the international market

In the international market, spot silver rose 1.79, or 2.2%, to USD 86.50 per ounce, while gold was trading higher by nearly 1% at USD 5,151 per ounce. Harish V, Head of Commodity Research at Geojit Investments Ltd, said that gold prices have risen amid Trump's tariff dispute and uncertainty over their legal validity. 

Even if the Supreme Court declares the tariffs invalid, the ongoing trade tensions could pressure the US dollar and provide support to bullion. 

He further said that apart from tariffs, factors like continued central bank buying, expectations of lower interest rates in the US, ongoing geopolitical risks, and slower global growth could support gold in the long term, keeping its overall outlook constructive.

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