Gold and Silver Prices Surge Amid Global Uncertainty, Gold Hits Rs 78,990

Gold prices saw a modest rise in early trade on Saturday, with the rate for 24-carat gold increasing by Rs 10 to reach Rs 78,990 per 10 grams, according to GoodReturns. Silver prices also climbed, with a Rs 100 hike bringing the cost of one kilogram to Rs 99,100.

Similarly, 22-carat gold experienced a Rs 10 increase, trading at Rs 72,410 per 10 grams.

In cities like Mumbai, Kolkata, Bangalore, Chennai, and Hyderabad, the price of 24-carat gold remained consistent at Rs 78,990 per 10 grams. In Delhi, the price was slightly higher at Rs 79,140. For 22-carat gold, the rates in Mumbai, Kolkata, Bangalore, Chennai, and Hyderabad stood at Rs 72,410, while Delhi saw a price of Rs 72,560.

Silver prices followed a similar trend, with the cost of one kilogram in Delhi, Mumbai, Kolkata, and Ahmedabad reaching Rs 96,900. In Chennai, however, it was notably higher at Rs 1,05,100.

Meanwhile, in the global market, US gold surpassed the $2,700-per-ounce mark, driven by rising geopolitical tensions in the Middle East, concerns over the US elections, and expectations of a relaxed monetary policy. Spot gold was up 1% at $2,720.05 per ounce and gained 2.4% over the week. Spot silver surged 6% to $33.58, while platinum and palladium prices also saw gains of 2.4% and 4%, respectively.