Gold and silver price on March 5: Gold rate edge higher amid US tariff war worries

Gold prices firmed up on Wednesday as trade war worries boosted its safe haven demand. Early losses in Asian trade, however, capped its gains in the domestic market.

The United States government confirmed 25% tariffs on Canada and Mexico and 20% on Chinese imports, attracting retaliatory actions from these countries. The US tariff action also fanned fears of a pick in inflation, causing losses in stock markets. Investors were awaiting the release of US ADP employment data for further cues into Fed rate action.

On Wednesday, 24K gold rose to ₹87,390 per 10 grams and 22K gold to ₹80,110 per 10 grams in major Indian cities. Gold prices had jumped to ₹760 per 10 grams on Tuesday. In early Asian trade on Wednesday, spot gold dropped by 0.39% to $2,906 an ounce.

Gold Price Today in India (March 5, 2025)

In Delhi markets, 24K gold traded at ₹87,540 per 10 grams and 22K gold at ₹80,260 per 10 grams, up by ₹10 over the last close.

Gold Price Today in Major Cities

Silver Price Today in India (March 5, 2025)

Silver prices declined for the second day, dropping by ₹100 to ₹96,800 per kg on Wednesday on worries that the tariff war could derail industrial demand for the metal. The white metal declined in early Asian trade, which weighed local prices. Spot silver dropped by 0.18% at $31.92 an ounce in early Asian Trade on Wednesday.

Silver Price Today in Major Cities:

Comparison of Gold and Silver Prices This Week

Gold prices advanced for the second day on Wednesday, fueled by a safe-haven push amid trade war worries. However, inflation fears are restricting gains in the metal. Silver prices have edged down for the second day due to weak local demand from industrial users.

Here’s a comparison of gold and silver prices from earlier this week: