Gold prices continued their upward trend for the fourth consecutive day on February 7, 2025, reaching new highs in Indian markets amid rising demand from jewelers and retailers. This surge is attributed to strong global trends and the ongoing wedding season, which has further fueled the demand for gold.
Gold Price Surge Amid Global Trends
In Delhi, 24-carat gold prices rose to ₹86,670 per 10 grams, an increase of ₹10, while 22-carat gold climbed to ₹79,460 per 10 grams. Similarly, in Mumbai, 24-carat gold prices reached ₹86,520 per 10 grams, and 22-carat gold went up to ₹79,310 per 10 grams. The rise in prices follows a ₹270 increase on Thursday, February 6, when 24-carat gold was priced at ₹86,510 per 10 grams in Mumbai and other cities, while 22-carat gold was up by ₹250 at ₹79,300 per 10 grams.
Global Factors Influencing Gold Prices
The surge in gold prices is also linked to safe-haven demand in global markets, where gold has traded near record levels. As of early Friday, spot gold gained 0.48%, reaching $2,867 an ounce in Asian trade. This increase follows a record high of $2,882 an ounce on Wednesday, driven by concerns over trade policy uncertainty and potential tariff wars.
Silver Prices Decline Amid Weak Industrial Demand
In contrast to gold’s rise, silver prices fell by ₹100 to ₹99,400 per kilogram in early Friday trade. This decline is attributed to weaker demand from industrial users. On Thursday, February 6, silver prices remained largely unchanged at ₹99,500 per kilogram, as the US dollar hovered near 108 levels after a recent correction. However, silver gained 0.19% to $32.27 an ounce in early Asian trading on Friday.
Weekly Comparison: Gold and Silver Trends
Gold prices have remained at record-high levels this week due to strong local demand and global safe-haven buying amid trade policy concerns. On the other hand, silver prices have moved within a narrow range, impacted by weak industrial demand but supported by firm global trends and a weaker rupee.
Conclusion
The steady rise in gold prices reflects a combination of domestic demand, global economic uncertainties, and a thriving wedding season in India. Silver, however, faces pressure from reduced industrial demand, though global factors continue to offer some support. As the global economic situation evolves, both gold and silver prices will remain influenced by a range of economic and market conditions.
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