Gold prices rose Rs 140 to Rs 88,100 per 10 grams in the national capital on Thursday amid strong trends in the international markets, according to the All India Sarafa Association.The precious metal of 99.9 per cent purity had closed at Rs 87,960 per 10 grams on Wednesday.Gold of 99.5 per cent purity went up Rs 140 to Rs 87,700 per 10 grams from the previous close of Rs 87,560 per 10 grams.“Gold recovered from a recent swing bottom and traded higher on Thursday, as haven demand remains intact in response to multiple disruptive tariff announcements by President Trump that are scheduled to be implemented shortly,” Saumil Gandhi, Senior Analyst – Commodities at HDFC Securities, said.Silver prices also jumped Rs 800 to Rs 98,000 per kg on Thursday. The white metal had settled at Rs 97,200 per kg in the previous trading session.Investors remain worried that US President’s trade tariffs might trigger a global trade war, which continues to act as a tailwind for safe-haven metals like gold, Gandhi said.In futures trade on the MCX, gold contracts for April delivery climbed Rs 364 to trade at Rs 85,845 per 10 grams.“Gold prices gained once again despite the US CPI (Consumer Price Index) data not rising significantly and the US Federal Reserve indicating no urgency in cutting rates,” Jateen Trivedi, VP Research Analyst – Commodity and Currency at LKP Securities, said.The safe-haven appeal of gold continues to support its strength, keeping the broader bullish sentiment intact, Trivedi added.Silver futures increased Rs 191 to Rs 95,693 per kg on the Multi Commodity Exchange (MCX).In the overseas markets, comex gold futures for April delivery rose $ 15.90 per ounce to $ 2,944.60 per ounce. Meanwhile, the spot gold also appreciated by $ 12.72 per ounce, or 0.44 per cent, to $ 2,916.76 per ounce.However, comex silver futures is trading flat at $ 32.77 per ounce in the Asian market hours.According to Kaynat Chainwala, AVP-Commodity Research, Kotak Securities, investors are also awaiting Producer Price Index (PPI) data due to release later on Thursday for further guidance on monetary policy and for the bullion prices as well.
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