NEW DELHI, Aug 31: Gold and silver prices have seen a significant increase this week, with gold prices rising by over Rs 3,000 and silver prices jumping over Rs 3,600.
The rise in gold and silver prices is attributed to global uncertainty, with actions such as tariffs imposed by US President Donald Trump heightened international instability.
Gold and silver are considered safe-haven assets during periods of uncertainty, and increased demand combined with limited supply has contributed to the recent price surge.
Experts predict that September will be a crucial month for both metals, with investors closely watching the US Federal Reserve’s upcoming meeting regarding potential interest rate cuts.
Since January 1, the price of 10 grams of 24-carat gold has risen from Rs 76,162 to Rs 1,02,388, a gain of Rs 26,226 or 34.43 per cent.
Silver prices have also increased from Rs 86,017 per kilogram to Rs 1,17,572, up Rs 31,555 or 36.68 per cent. In the previous week, gold prices dropped by more than Rs 600 per 10 grams, while silver slipped by over Rs 1,000 per kilogram in the last week. (IANS)
