Gold rate in the present day: Yellow metal jumps Rs 400 to Rs 1,01,420; silver surges Rs 1,500 on fresh buying

Gold rate in the present day: Gold costs within the nationwide capital rose Rs 400 to Rs 1,01,420 per 10 grams on Thursday, supported by fresh buying from stockists and agency international tendencies, in accordance to the All India Sarafa Association. The yellow metal of 99.9% purity had closed at Rs 1,01,020 within the earlier session.Gold of 99.5% purity additionally gained Rs 400 to Rs 1,01,000 per 10 grams (inclusive of taxes) from Wednesday’s Rs 1,00,600. Silver costs jumped Rs 1,500 to Rs 1,13,500 per kg (inclusive of taxes), PTI reported.“Gold and silver prices rose after traders increased their bets on the US Federal Reserve resuming interest rate cuts in the September meeting. While indications of a slowing labour market provided room for additional easing, the most recent US Consumer Price Index report allayed worries over tariff-driven inflation,” mentioned Renisha Chainani, Head of Research at Augmont.In international markets, spot gold was marginally greater at $3,356.96 per ounce in New York. “Gold extends gains to trade ahead of US Producer Price Index and jobless claims data. However, optimism over trade, as Washington and Beijing extended their tariff truce by 90 days, and upcoming talks between US, European, Ukrainian, and Russian leaders, could temper further upside,” mentioned Kaynat Chainwala, AVP of Commodity Research at Kotak Securities.According to Jateen Trivedi, VP Research Analyst – Commodity and Currency, LKP Securities, greenback weak spot has supported gold costs, whereas ongoing tariffs have additionally underpinned power. He added that gold stays optimistic so long as the $3,280 per ounce stage is held. Spot silver, nevertheless, eased 0.41% to $38.35 per ounce internationally.