Gold Prices Reach New Peak

Gold prices experienced a significant surge, climbing by Rs 600 to hit a record high of Rs 89,450 per 10 grams in the national capital. This remarkable increase is attributed to strong global market trends, with the yellow metal of 99.9% purity previously closing at Rs 88,850 per 10 grams on Wednesday.

Silver Also Sees Gains

Not to be outdone, silver prices also saw a notable increase, rising by Rs 1,000 to reach nearly a five-month high of Rs 1,01,200 per kilogram. This uptick from Rs 1,00,200 in the previous trading session highlights the precious metal's growing appeal among investors.

Market Analysts Weigh In

"The surge in gold prices is driven by safe-haven demand, further bolstered by cooler-than-expected US consumer inflation data," explained Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities. This data has reinforced expectations of further monetary easing by the Federal Reserve this year.

Looking Ahead

Investors and traders are now keenly awaiting upcoming US economic data, including weekly jobless claims and the Producer Price Index (PPI). These indicators are expected to provide deeper insights into the inflation outlook and potentially influence future market trends.

Disclaimer: The opinions, analyses and recommendations expressed herein are those of brokerage and do not reflect the views of The Times of India. Always consult with a qualified investment advisor or financial planner before making any investment decisions.