Gold and Silver Markets Reach New Heights

Gold June futures on MCX soared to a historic high of Rs 99,178 per 10 grams on Tuesday, marking a significant rise from the previous session. This surge followed the retail market's breakthrough past the Rs 1 lakh per 10 gm threshold, including GST.

Silver May futures also saw an uptick, opening 0.33% higher at Rs 95,562/kg, an increase of Rs 315 from the last session.

Global Uncertainty Fuels Precious Metals Demand

The weakening U.S. dollar and ongoing US-China trade tensions have heightened the appeal of gold as a safe-haven asset. The dollar index's drop to 3-year lows further bolstered gold's attractiveness.

Expert Insight: "Uncertainty in global financial markets and the escalating US-China trade war are key drivers behind the current volatility in precious metals prices," noted Manoj Kumar Jain of Prithvifinmart Commodity Research.

Physical Gold Market Rates Across India

Delhi Market: Standard gold (22 carat) at Rs 57,184/8 grams, Pure gold (24 carat) at Rs 60,984/8 grams.

Mumbai Market: Standard gold (22 carat) at Rs 57,496/8 grams, Pure gold (24 carat) at Rs 61,264/8 grams.

Chennai Market: Standard gold (22 carat) at Rs 56,912/8 grams, Pure gold (24 carat) at Rs 60,632/8 grams.

Hyderabad Market: Standard gold (22 carat) at Rs 56,896/8 grams, Pure gold (24 carat) at Rs 60,640/8 grams.