Gold Prices Remain Unchanged Amid Tariff Speculations

Gold prices in New Delhi stayed flat at an all-time high of Rs 94,150 per 10 grams on Wednesday. This stability comes as traders and investors closely monitor the potential announcement of reciprocal tariffs by US President Donald Trump, targeting countries with a trade deficit with the US, including India.

Silver Prices Experience a Dip

Contrary to gold, silver prices saw a decrease, falling by Rs 1,000 to Rs 1,01,500 per kg from Tuesday’s closing of Rs 1,02,500 per kg.

Market Analysts Weigh In

Saumil Gandhi, Senior Analyst for Commodities at HDFC Securities, highlighted the potential for fresh volatility across financial markets due to the looming tariffs. "Uncertain times tend to benefit precious metals," Gandhi noted, suggesting that investors are likely to react to how these tariffs impact global trade and geopolitical relations.

Global Market Trends

Globally, spot gold saw a slight increase of 0.11% to USD 3,116.86 per ounce, while Comex gold futures for June delivery remained unchanged at USD 3,149.30 per ounce. Spot silver, however, rose by 0.52% during Asian market hours, reaching USD 33.87 per ounce.

Anticipation Builds for US Jobs Report

Kaynat Chainwala, AVP-Commodity Research at Kotak Securities, mentioned that the market is also awaiting the US private jobs report. This report is expected to provide further clues regarding the Federal Reserve’s upcoming monetary policy decisions.