Gold Prices Surge to Record Highs Amid Trade War Concerns, While Silver Remains Steady – Check Latest Rates

Gold prices hit record highs, driven by safe-haven demand amid trade war concerns, but later fell nearly 1% following hawkish Fed comments. In India, 24K gold traded at ₹87,540 per 10 grams in Delhi, while silver dropped ₹100 to ₹99,400 per kg due to weak industrial demand. Investors await key US inflation data for further market direction.

CONTENTS:

• Gold Prices Decline Nearly 1% After Hawkish Fed Comments, Market Awaits US Inflation Data
• Gold and Silver Prices on February 12: Gold Rally Continues Amid Trade War Concerns, Weak Dollar

Gold Prices Surge to Record Highs Amid Trade War Concerns, While Silver Remains Steady – Check Latest Rates

Gold Prices Decline Nearly 1% After Hawkish Fed Comments, Market Awaits US Inflation Data

Gold prices fell nearly 1% in early trading on Wednesday, February 12, following hawkish remarks from US Federal Reserve Chair Jerome Powell. The MCX Gold April 4 contract opened at ₹84,926 per 10 grams, down 0.70% from the previous close of ₹85,523. Shortly after the market opened, prices declined further to ₹84,807, marking an overall drop of 0.84%. By 9:40 AM, the contract was trading at ₹84,452 per 10 grams, down 0.78%. This comes after gold reached an all-time high of ₹86,360 in the previous session on February 11.

International gold prices also saw profit booking after hitting record highs. Powell, in his testimony before Congress, maintained a cautious stance on interest rates, citing persistent inflation and a strong job market. His comments signaled a slower pace of rate cuts, with economists now anticipating fewer reductions than previously expected. Analysts at Morgan Stanley predict just one rate cut in 2025, potentially in July.

Gold typically benefits from economic uncertainty, but higher interest rates tend to weigh on the metal. In India, a weaker rupee, cautious stock market sentiment, and strong spot demand have contributed to gold’s recent price movements.

Market experts suggest a cautious approach to trading gold and silver. Rahul Kalantri of Mehta Equities identified key support and resistance levels:

• Gold (USD): Support at $2,872-$2,855, resistance at $2,924-$2,940
• Silver (USD): Support at $31.55-$31.32, resistance at $32.00-$32.19
• Gold (INR): Support at ₹85,170-₹84,760, resistance at ₹85,880-₹86,240
• Silver (INR): Support at ₹93,850-₹93,150, resistance at ₹95,250-₹95,850

Manoj Kumar Jain of Prithvifinmart Commodity Research expects volatility in gold and silver prices this week. He advises selling gold around ₹85,800 with a stop loss at ₹86,220, targeting ₹85,000. His technical outlook for MCX Gold and Silver includes:

• Gold (INR): Support at ₹85,100-₹84,660, resistance at ₹85,820-₹86,350
• Silver (INR): Support at ₹93,750-₹92,800, resistance at ₹95,200-₹96,000

As investors await key US economic data, including the Consumer Price Index (CPI) report later today and the Producer Price Index (PPI) on Thursday, market sentiment remains cautious.

Gold and Silver Prices on February 12: Gold Rally Continues Amid Trade War Concerns, Weak Dollar

Gold Prices Surge to Record Highs Amid Trade War Concerns Gold prices reached new record highs in early trade on Wednesday, February 12, driven by safe-haven demand and overnight gains in global markets. Spot gold remained near the $2,900 per ounce level in early Asian trading after hitting an all-time high of $2,968 per ounce in the previous session. Investors are closely monitoring US inflation data for further market cues.

Despite the rally, US spot gold declined 0.61% to $2,914 per ounce in early Asian trade on Wednesday.

Gold Prices in India (February 12, 2025)

In the Delhi market, 24K gold was priced at ₹87,540 per 10 grams, while 22K gold traded at ₹80,260 per 10 grams. Mumbai saw 24K gold at ₹87,390 per 10 grams and 22K gold at ₹80,110 per 10 grams.

Gold prices across major cities:

• Delhi: 22K Gold – ₹80,260 per 10 gm, 24K Gold – ₹87,540 per 10 gm
• Mumbai: 22K Gold – ₹80,110 per 10 gm, 24K Gold – ₹87,390 per 10 gm
• Chennai: 22K Gold – ₹80,110 per 10 gm, 24K Gold – ₹87,390 per 10 gm
• Kolkata: 22K Gold – ₹80,110 per 10 gm, 24K Gold – ₹87,390 per 10 gm

On Tuesday, gold prices in domestic markets had risen by ₹320, with 24K gold reaching ₹87,380 per 10 grams in Mumbai, while 22K gold climbed ₹300 to ₹80,100 per 10 grams.

Silver Prices in India (February 12, 2025)

Silver prices declined by ₹100 to ₹99,400 per kg on Wednesday due to weaker industrial demand. The US dollar held near the 108 level, impacting silver prices. Spot silver saw a marginal increase of 0.09% to $31.84 per ounce in early Asian trade.

Silver prices across key Indian cities:

• Delhi: ₹99,400 per kg
• Mumbai: ₹99,400 per kg
• Chennai: ₹1,06,900 per kg
• Kolkata: ₹99,400 per kg

Gold and Silver Price Trends This Week

Gold prices continued their upward trend for the eighth consecutive session due to rising trade war concerns, which boosted its safe-haven appeal. Meanwhile, silver remained range-bound, showing minimal movement.

Gold and silver prices over the past week:

• February 11: 22K Gold – ₹79,810, 24K Gold – ₹87,070, Silver – ₹99,400 per kg
• February 10: 22K Gold – ₹79,800, 24K Gold – ₹87,060, Silver – ₹99,500 per kg
• February 8: 22K Gold – ₹79,450, 24K Gold – ₹86,670, Silver – ₹99,500 per kg
• February 7: 22K Gold – ₹79,310, 24K Gold – ₹86,520, Silver – ₹99,400 per kg
• February 6: 22K Gold – ₹79,300, 24K Gold – ₹86,510, Silver – ₹99,500 per kg
• February 5: 22K Gold – ₹79,050, 24K Gold – ₹86,240, Silver – ₹99,500 per kg

Gold Prices Surge to Record Highs Amid Trade War Concerns While gold continues to surge due to global uncertainty, silver prices have remained stable with minor fluctuations.