Noida, Apr 4 (APAC Media): Gold prices edged higher in early trade on Saturday, reflecting steady demand for the yellow metal, while silver prices declined marginally in domestic bullion markets.
According to market data, the price of 24-carat gold rose by Rs 10 to Rs 1,50,940 per 10 grams. Similarly, 22-carat yellow metal also recorded a slight increase, with 10 grams trading higher compared to the previous session.
In the national capital, gold prices were quoted slightly above the national average due to local taxes and demand conditions. Other major cities such as Mumbai, Kolkata, and New Delhi also reported marginal variations in prices.
“Remarks by Donald Trump have dampened hopes of a US-Iran ceasefire, driving crude oil prices higher, strengthening the dollar and reviving inflation concerns, while stronger-than-expected US payroll data signalled economic resilience, reinforcing expectations that the Federal Reserve may maintain a hawkish stance and limit gains in bullion prices,” market analyst said.
In contrast, silver 999 prices slipped by Rs 100, with the metal trading at Rs 2,49,900 per kilogram in key markets, including Delhi and Mumbai. The decline in silver prices was attributed to mild profit booking and weak industrial demand outlook.
Bullion traders said gold remained supported by safe-haven demand driven by global uncertainties and fluctuations in currency markets.
However, gains remained limited as investors stayed cautious ahead of key economic data releases and central bank policy signals.
Globally, gold prices have shown resilience in recent sessions, supported by expectations of easing inflation and a softer interest rate trajectory in major economies. At the same time, a relatively firm US dollar has capped sharp upside in bullion prices.
Silver, which has both industrial and investment demand components, has remained more volatile compared to gold. Analysts noted that fluctuations in global manufacturing activity and economic growth expectations continue to influence silver prices.
Market experts expect bullion prices to remain range-bound in the near term, with geopolitical developments and macroeconomic indicators likely to guide investor sentiment.
(With inputs from market sources)
Also Read
Meghalaya Govt Partners Starlink to Test Satellite Internet in Remote Areas
