Gold rates jump ₹365 to reclaim ₹91,000/10 gm-mark amid firm global cues, silver jumps ₹200

Domestic gold prices on Thursday jumped ₹365 to ₹91,050 per 10 gm (24K, 99.9% purity) in the national capital amid firm global cues, according to the All India Sarafa Association. Gold of 99.5% purity (22K) jumped to ₹90,600 per 10 gm.

The precious metal reclaimed the ₹91,000/10 gm mark after settling at ₹90,685 per 10 gm (24K, 99.9% purity) and ₹90,235 per 10 gm (22K, 99.5% purity).

Silver prices also jumped ₹200 to ₹1,01,700 per kg after ending at ₹1,01,500 per kg on Wednesday.

On the Multi Commodity Exchange (MCX), gold futures for the April delivery climbed ₹828 (0.94%) to ₹88,466 per 10 gm, trading near a record high. Gold futures jumped to a lifetime high of ₹ 89,796 per 10 gm on March 20.

Moreover, spot gold rates in the overseas markets increased by $34.77 (1.15%) to trade near a record high of $3,054.05 per ounce on Thursday.

"Gold prices surged near $3,050 per ounce as expectations of lower US GDP data and the anticipated reciprocal tariffs from the US on April 2, fuelled uncertainty," a PTI report quoted Jateen Trivedi, VP Research Analyst of Commodity and Currency at LKP Securities, as saying.

In the Asian market hours, Comex gold futures for the April delivery jumped to $3,094.85 per ounce, hitting a new high.

Gold continues to shine amid the rising geopolitical risks and ongoing economic instability. As per experts, investors are waiting for the US Personal Consumption Expenditures (PCE) data scheduled to be released on Friday, which is a key indicator for the US Federal Reserve's policy decisions.