Gold Prices Rise, Silver Shines; Check the Latest Rates
New Delhi, 18th February 2025: Gold expenses surged by ₹300 to ₹88,500 per 10 grams in the national capital on Tuesday, facilitated by strong global market trends. According to the All India Sarafa Association, gold with 99.9% purity, which was priced at ₹88,200 per 10 grams on Monday, has now increased to ₹88,500. Similarly, gold with 99.5% purity noticed a ₹300 upward push, reaching ₹88,100 per 10 grams.
Silver prices also saw a rise. The price of silver rose by Rs 800 to Rs 99,000 per kg. It was Rs 98,200 per kg a day earlier.
Gold and Silver Performance in MCX Futures Market
In the MCX futures market, gold futures contracts for April delivery increased by ₹435, reaching ₹85,490 per 10 grams. Meanwhile, silver futures for March delivery saw a ₹439 rise, trading at ₹96,019 per kg.
According to Jatin Trivedi, VP Research Analyst (Commodity and Currency), LKP Securities, “Gold prices remain strong due to global uncertainties and rising concerns about tariffs. Banks and investment funds are still investing in gold considering it a safe investment, due to which gold remains at a good strength.”
He further stated that market volatility could increase as key events are set to take place on Wednesday, including a speech by U.S. President Donald Trump, the release of Federal Reserve meeting minutes, and the minutes from the Reserve Bank of India’s (RBI) meeting.
Gold prices rise in international market
Gold for April delivery on COMEX rose $24.94 (0.86%) to $2,925.64 an ounce. Spot gold price rose $16 to $2,912.50 an ounce. Silver futures on COMEX were trading 0.47% higher at $33 an ounce.
Kainaat Chainwala, AVP-Commodity Research, Kotak Securities, said, “Gold is trading above $2,925 on COMEX as investors keep an eye on the growing tension between the US and the European Union and developments in the Ukraine peace talks.”
Saumil Gandhi, Senior Analyst, HDFC Securities, said, “Gold saw a marginal rise on Tuesday, making it the safest investment option. However, further rise in gold was limited due to the statement of Federal Reserve member Patrick Harker to keep interest rates stable.”
Gold imports in India rise by 40.79%
According to the Commerce Ministry, India’s gold imports rose by way of 40.79% to $2.68 billion in January 2025 from $1.9 billion in January 2024. Total imports from April 2024 to January 2025 increased by 32% to $50 billion, which was $37.85 billion during the same period last year. The ministry explained – the rise in imports was due to investors viewing gold as a safe asset, rising demand from banks and reduction in custom duty.
