Gold prices in India remained stable, staying above Rs 86,000 per 10 grams at Rs 86,070 as of 6:50 a.m. on February 20, according to the India Bullion Association. Rates varied across different cities, with New Delhi at Rs 85,770, Mumbai at Rs 85,910, Kolkata at Rs 85,800, and Bengaluru surpassing Rs 85,980. Chennai had the highest price, recording Rs 86,160. The previous week’s surge in domestic gold prices was mainly attributed to rising global tensions, which saw prices in Delhi peak at Rs 88,100 on Thursday.
The price of 99.5% purity gold increased by Rs 140, bringing it to Rs 87,700 per 10 grams. Investors were particularly focused on the trade tariffs introduced by US President Donald Trump, coupled with the threat of a global trade war, which led to a rise in demand for safe-haven assets like gold.
On the global front, spot gold prices settled at $2,939, maintaining high levels due to fears surrounding international trade conflicts and other global developments. The previous peak was at $2,942 on February 11, as per Bloomberg. April 4 gold futures were priced at Rs 85,879, while silver futures were listed at Rs 96,378 on the Multi Commodity Exchange.
Silver prices stood at Rs 96,820, bolstered by strong demand from industries, particularly for renewable energy technologies and electronics.
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