Gold Jumps Rs 400, Silver Up Rs 300

New Delhi: Gold prices jumped Rs 400 to hit a fresh record high of Rs 85,300 per 10 grams in the national capital on Monday on the back of continued demand by jewellers and stockists, according to the All India Sarafa Association. Traders said sharp depreciation in rupee and firm trends in the international markets lifted gold rates to record high levels.

The precious metal of 99.9 per cent purity had settled at Rs 84,900 per 10 grams on Saturday. Gold of 99.5 per cent purity rose for the fourth straight session by climbing Rs 400 to hit another record high of Rs 84,900 per 10 grams. The yellow metal ended at Rs 84,500 per 10 grams in the previous trading session. Rallying for the fifth consecutive session, silver increased Rs 300 to Rs 96,000 per kg on Monday.

The white metal finished at Rs 95,700 per kg in the previous market close. “Gold rallied positively on MCX. Participants increased gold allocations as concerns over a potential Trade War 2.0 from the US triggered safe-haven demand,” Jateen Trivedi, VP Research Analyst of Commodity and Currency, LKP Securities, said.