Gold Hits Record ₹94,000; Silver Falls Below ₹1 Lakh
- Global Safe-Haven Buying Pushes Gold Higher: Highest quarterly gain in 40 years.
- Crude Oil Surges Past $75: Global gold prices near $3,150 per ounce.
Mumbai: The bullion market in Mumbai saw record-breaking gold prices today, while silver experienced fluctuations. Global gold prices soared close to $3,150 per ounce, marking a historic high. Analysts are now eyeing the $3,200 level. Domestically, rising import costs fueled the continued rally in gold prices.
In Ahmedabad’s bullion market, gold prices surged to ₹94,000 per 10 grams, stunning investors. Globally, gold prices fluctuated between a low of $3,120 and a high of $3,149, settling around $3,133–$3,134 per ounce. Market participants were closely watching U.S. President Trump’s upcoming tariff policy announcement, which sustained safe-haven demand for gold.
Meanwhile, in Ahmedabad, gold prices rose by ₹500, with 995 purity gold reaching ₹93,700 and 999 purity gold hitting ₹94,000 per 10 grams. However, silver prices dropped by ₹500 per kg to ₹99,500.
In global markets, silver prices ranged from $33.78 (low) to $34.21 (high), closing around $33.92–$33.93 per ounce. In Mumbai’s bullion market, gold prices (excluding GST) climbed to ₹90,750 for 995 purity and ₹91,115 for 999 purity, while silver was priced at ₹99,641 per kg. Including GST, these prices were approximately 3% higher.
Elsewhere, platinum prices ranged between $987 (low) and $1,001 (high), closing around $992–$993 per ounce. Palladium traded between $982 and $997, settling at $985–$986 per ounce. Copper prices saw a marginal 0.29% increase. Experts noted that this was gold’s best quarterly performance since 1986.
Additionally, the global dollar index fluctuated between 104.02 (low) and 104.35 (high), settling at 104.27. In Mumbai’s currency market, the dollar traded between ₹85.55 and ₹85.71, closing at ₹85.68.
Crude oil prices also surged globally. Brent crude rose to $75.28 per barrel, while U.S. crude peaked at $71.99 before settling at $71.34. In India, crude oil imports reached a record daily high of 5 million barrels in March, with increased imports from Russia.
