Gold, Silver climb as global tensions and tariff concerns boost safe-haven demand
Gold and silver extended gains on Thursday. Rising geopolitical tensions and uncertainty over US tariff policies drove investors toward safe-haven assets. As a result, both metals traded firm in domestic and global markets.
Gold Prices Hold Firm in India
First, domestic gold rates stayed steady after the previous market close on February 26. The price of 24-carat gold stood at ₹1,62,070 per 10 grams. Meanwhile, 22-carat gold traded at ₹1,48,590 per 10 grams.
India ranks as the world’s second-largest gold consumer after China. The country meets most demand through imports and recycled bullion. Therefore, several external factors influence prices. Import duties, local taxes, US bond yields, dollar movement, and global benchmarks all shape domestic rates.
Gold Rates in Major Cities
Across metro cities, prices showed minor variations.
- In Bengaluru, 24-carat gold traded at ₹1,61,900 per 10 grams.
- In Chennai, the rate reached ₹1,62,560 per 10 grams.
- In Delhi, gold held at ₹1,62,070 per 10 grams.
- In Kolkata, traders quoted ₹1,61,910 per 10 grams.
- In Mumbai, prices stood at ₹1,61,930 per 10 grams.
- In Pune, gold sold at ₹1,61,950 per 10 grams.
Overall, city-wise differences reflected local demand and logistics costs.
Silver Prices Remain Stable
At the same time, silver prices remained unchanged in India as of February 26. Silver traded at ₹3,019 per 10 grams. The metal cost ₹30,190 per 100 grams and ₹3,01,900 per kilogram.
India leads global silver consumption and imports large volumes to meet demand. Besides jewellery, industries use silver in electronics, solar panels, and other manufacturing sectors. Consequently, global prices, import duties, and currency trends directly affect domestic silver rates.
Silver Rates in Metro Cities
City-specific prices showed slight variation:
- Bengaluru quoted ₹2,959 per 10 grams.
- Chennai reported ₹3,039 per 10 grams.
- Delhi traded at ₹3,019 per 10 grams.
- Kolkata listed ₹2,969 per 10 grams.
- Mumbai quoted ₹3,009 per 10 grams.
- Pune recorded ₹3,029 per 10 grams.
These differences reflected regional demand and supply factors.
Global Market Cues Drive Momentum
Meanwhile, international markets signaled continued strength. Gold prices rose as traders evaluated tensions in the Middle East and fresh uncertainty around US trade tariffs. Spot gold gained 0.5% to $5,188.76 per ounce. The metal has climbed nearly 6% over the past six sessions and almost 20% so far this year.
Silver also advanced. The metal rose 0.9% to $89.99 per ounce. In addition, platinum and palladium registered gains. However, US gold futures for April delivery slipped 0.5% to $5,199.20, even though both metals touched three-week highs in the previous session.
Clearly, investors continue to hedge against volatility. They prefer precious metals when equity markets fluctuate and geopolitical risks rise.
Why Investors Choose Gold
Investors often turn to gold during uncertainty. The metal protects portfolios against inflation and currency swings. Moreover, gold offers high liquidity and long-term stability. For this reason, many investors allocate a portion of their assets to bullion during volatile periods.
Why Silver Attracts Buyers
Silver also draws interest because it serves two roles. It functions as both a precious metal and an industrial input. Strong jewellery demand in India supports prices. At the same time, industrial consumption adds structural strength. Furthermore, silver costs less than gold, which makes it accessible to a wider group of investors.
In summary, global uncertainty and tariff concerns continue to support gold and silver. Market participants now watch international developments closely for the next price trigger.
