Big rise in gold and silver prices; Blasted by Trump Tariffs!, Check New Rates in Your City…

• What is the connection between the decision on tariffs and the rise in gold and silver prices?
• How much has the price increased in the international market?
• Along with gold, silver prices also bounced

Gold Rate Today: After the historic decision of the US Supreme Court, there has been a lot of excitement in the markets around the world. The court struck down the tariffs imposed by President Donald Trump as completely illegal. After this shock, Trump did not accept defeat but on the contrary imposed a new global tariff of 10 percent on the whole world. Therefore, this sudden geo-political change is having a direct impact on the common man’s pocket. Weak US GDP data and the announcement of new global tariffs have fueled investors’ fears. Again, investors have rushed to gold in search of a safe investment. Therefore, there has been a huge jump in the price of gold at the international level.

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Gold prices increased in the international market

Gold prices rose by more than one percent in Friday’s trade. By midday, spot gold jumped 1.5 percent to $5,071.48 an ounce. Investors have fully accepted this new strategy of Trump after the decision given by the US Supreme Court.
The luster of this yellow metal is increasing strongly in the foreign market. American gold futures for April delivery were not far behind and registered an impressive gain of 1.7%. The futures closed at a high of $5,080.90.

Today’s New Prices in Indian Bullion Market

The international boom is also having a direct impact on India’s Multi Commodity Exchange (MCX). On Friday, the contract closed at Rs 1,56,993 per 10 grams, a slight increase of 0.07 per cent. Earlier on February 19, this figure was Rs 1,56,876. Trading in MCX is closed as it is Saturday.
According to ‘Good Returns’, gold prices have skyrocketed in major cities of the country. In capital Delhi and Lucknow in Uttar Pradesh, the price of 24 carat gold has touched Rs 1,59,430 per 10 grams. While in Chennai, this figure is highest at Rs 1,60,150. 24 carat gold is available for Rs 1,59,280 in Mumbai, Kolkata and Hyderabad.
In Ahmedabad, Gujarat, 24 carat gold prices were recorded at Rs 1,59,330 and 22 carat gold prices at Rs 1,46,050. 24 carat gold is being sold at Rs 1,59,330 in Patna, the capital of Bihar. Continually rising prices will affect the common man’s pocket. During the wedding season, the customer’s budget can be completely ruined.

Big increase in silver price too

After gold, the price of silver is also increasing. Today, 10 grams of silver is selling at Rs 2,750 in major cities like Delhi, Mumbai and Kolkata. If a customer wants to buy 100 grams of silver, he has to spend Rs 27,500 from his pocket. Chennai, a major city in South India, has a higher silver price than other parts of the country. Here, 10 grams of silver costs Rs 2,900.

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