Gold Silver Price Today: The bullion market also saw a surge today, with silver prices jumping by ₹21,000 and gold becoming nearly ₹6,000 more expensive.

The agreement on the India-US trade deal and the 18 percent reduction in tariffs are having a significant impact not only on the stock market but also on the commodity market. After continuously falling for the past five trading days, gold and silver prices witnessed a surge today. Gold prices increased by approximately Rs 6050.  Silver prices also rose by 9 percent, registering a jump of Rs 20940.  As a result, the latest price of gold has reached Rs 1,49,200 per 10 grams, while silver has reached Rs 2,54,200 per kilogram.

Significant Drop Recorded Earlier

Earlier, on Monday (February 2), according to the All India Bullion Association, gold and silver prices had witnessed a significant drop. Silver prices saw a major decline for the third consecutive day, falling by Rs 52,000 to Rs 2.60 lakh per kilogram. In the last three sessions, silver had fallen by approximately 36 percent from its January 29 high. The price of 99.9 percent pure gold also fell by Rs 12,800 to Rs 1,52,700 per 10 grams.

Gold and Silver Prices in the International Market

Gold and silver prices also registered a strong surge in the international market. On COMEX, during trading on Tuesday morning, gold rose by approximately $137, or about 3 percent, to reach $4,789 per ounce. Silver saw an even sharper increase, rising by 5.81 percent or about $4.4, trading above the $81 per ounce level.