Posted on April 2, 2025, by Niftynews
Gold and silver prices reached remarkable heights today, continuing to reflect the global uncertainty and growing investor demand for safe-haven assets. As of April 2, 2025, gold prices surged to a historic Rs 91,100 per 10 grams, while silver prices surpassed Rs 1,00,002 per kilogram. Both metals are benefiting from market volatility, fueled by inflation fears and geopolitical concerns.
Gold Prices: A Safe Haven Amid Global Uncertainties
Gold prices have been on an upward trajectory, driven by heightened global economic uncertainties and inflation concerns. As a classic safe-haven asset, gold’s rally is largely attributed to rising geopolitical tensions, including the anticipation of new US tariffs. Market analysts predict that gold may continue to rise in value if economic conditions remain volatile. On the global front, spot gold reached $3,131.25 per ounce, marking a 0.7% increase and nearing its record high of $3,148.88 from earlier in the week.
As Philip Newman, Managing Director at Metals Focus, explains, “The ongoing fears of an economic slowdown, coupled with geopolitical instability, are causing investors to flock to gold for protection.”
Silver Prices: Surpassing Rs 1 Lakh Amid Strong Demand
Silver prices also saw a significant jump, following the path set by gold. On April 2, silver prices reached Rs 1,00,002 per kilogram. Investors are increasingly turning to silver, especially with growing concerns about inflation and economic stability. Silver’s industrial applications, combined with its appeal as a store of value, continue to support its price increase.
In global markets, silver futures have risen by 0.44%, closing at Rs 1,00,002 per kilogram in India. Despite some profit-taking, experts believe silver will maintain its upward trend due to its dual role as both an industrial and investment metal.
Impact of US Tariffs on Gold and Silver Prices
The upcoming US trade tariff announcements are adding fuel to the fire in global precious metals markets. Experts anticipate that new tariffs could lead to higher inflation and slower economic growth, which will further increase demand for safe-haven assets like gold and silver.
Aakash Doshi, Global Head of Gold Strategy at State Street Global Advisors, notes that the gold market could test $3,400 per ounce in a bullish scenario over the next nine months. As tariffs push inflation higher, both gold and silver are likely to see continued upward momentum.
Domestic Market Outlook: Gold and Silver Prices in India
In the Indian market, gold and silver prices remain volatile, influenced by fluctuations in the global markets and the rupee-dollar exchange rate. On April 2, 2025, gold futures closed at Rs 91,232 per 10 grams, while silver prices followed suit, showing signs of continued strength.
Gold Support Levels: Rs 90,440 – Rs 90,100
Gold Resistance Levels: Rs 91,150 – Rs 91,500
Silver Support Levels: Rs 98,800 – Rs 98,150
Silver Resistance Levels: Rs 1,00,300 – Rs 1,01,200
Gold Prices Across Major Indian Cities
Here’s a quick look at the latest gold prices in key cities:
- Mumbai: Rs 9,284 (24K), Rs 8,510 (22K)
- Delhi: Rs 9,284 (24K), Rs 8,510 (22K)
- Chennai: Rs 9,284 (24K), Rs 8,510 (22K)
- Kolkata: Rs 9,284 (24K), Rs 8,510 (22K)
- Bangalore: Rs 9,284 (24K), Rs 8,510 (22K)
Silver Market Trends and Volatility
While gold leads the way, silver continues to show strong performance despite short-term price fluctuations. Many analysts believe that the ongoing industrial demand for silver, paired with concerns about economic uncertainty, will continue to support higher prices.
Despite some minor profit-taking in the short term, analysts suggest that silver could continue to experience upward movement in the coming months, especially if global trade tensions and inflationary pressures persist.
Conclusion: Investors looking to hedge against inflation and global uncertainties are likely to continue flocking to gold and silver, which remain strong performers. As the geopolitical landscape and global economic conditions evolve, precious metals will likely continue to hold their ground as reliable assets.
Stay updated on the latest trends in gold and silver prices and how they might impact your investment strategy.
