Gold Rs 1400 cheaper, silver beyond 1,13,000 – know today’s rate before purchasing
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Mumbai
If you are planning to buy gold jewelery, then it can prove to be the right time for you. Today, gold prices have declined for the second consecutive day. Earlier on Monday, gold prices were broken. On August 12, the price of gold on MCX declined to Rs 1,00,268, while the silver price rose by 0.25 per cent, they are trading around Rs 1,13,575. Gold and silver futures trading in the international market are seeing softening.
Gold sluggish in international market, silver intensified
In the international market, gold and silver futures started with softness today but later silver prices improved. Gold on COMEX opened at $ 3,393.60 an ounce price. The previous closing price was $ 3,404.70 an ounce. At the time of writing the news, it was trading at a price of $ 3,401.90 an ounce at $ 3,401.90 an ounce. Gold futures have touched an all -time high at a price of $ 3,509.90 this year. Silver futures on Comex opened at $ 37.63. The previous closing price was $ 37.78. At the time of writing the news, it was trading at $ 0.14 to $ 37.92 an ounce.
Let us know that Trump’s announcement of not imposing tariffs on gold has ended the uncertainty created after a decision of US Customs and Border Protection (CBP). In that decision, a tariff was expected on standard gold rods of one kilo and 100 ounces.
After Trump’s announcement, the price of US gold futures (December delivery) declined by 2.4 to 2.5 per cent and reached 3,404 to $ 3,407 an ounce. At the same time, the price of spot gold was reduced by 1.2 per cent to 3,357 to 3,358.33 an ounce. The global benchmark spot gold was priced at $ 3,394 to $ 3,402.7 an ounce. On August 8, American gold futures reached a record level of $ 3,534 an ounce.
Impact on global gold trade
Relief to Switzerland: Switzerland, the major center of global gold refining and business, was at risk of 39% tariff on its gold exports in the US. Trump’s decision has postponed this risk which is a big relief for Switzerland. It is believed that this decision will not cause any obstruction in the supply chain.
Demand for safe investment persists: Gold remains a means of safe investment globally amidst the uncertainty of Bhurajnic stress and trade policy. The end of the possibility of tariff will increase the confidence of investors, although this may reduce the price speculation.
Long term view on gold
According to the World Gold Council, global gold consumption in the first quarter of 2025 rose by 1 percent to 1,206 tonnes, which is the highest since 2016. Institutions such as Deutch Bank have predicted to rise gold prices, which have been made in mind the global uncertainties and the purchase of central banks. Trump’s decision will bring stability to the gold market, but the prices are likely to be high.
How to invest in gold?
An easy and safe way to invest in gold in India is Gold Exchange-Treded Fund (ETF). These funds are bought and sold in the stock market and their price changes according to the price of gold. In this, you do not need to keep real gold with you.
Investment in Gold ETF is cheaper and clean (transparent), in which there is no threat to the theft or purity of gold. It can be easily purchased or sold whenever it wants, so the liquidity of money remains in it. However, it may have risks such as market fluctuations and brokerage charges, but they are modest. It is important to understand the market situation well before investing.
