Gold-Silver Prices: Gold price jumps by ₹2,000 in Delhi, silver also shines; global tensions stir up the market.

Gold prices in Delhi surged by ₹2,000 on Tuesday, extending gains for the second consecutive session. Silver prices also moved higher, rising ₹730 per kg amid continued volatility in the global bullion market.

According to the All India Bullion Association, 99.9% purity gold rose to ₹1,58,800 per 10 grams, including all taxes, compared with ₹1,56,800 per 10 grams at Monday's close. Silver climbed to ₹2,40,730 per kg, from ₹2,40,000 per kg previously.

Gold and Silver Prices Rise in Delhi

The latest rally in domestic gold prices was supported by increased buying from retailers and hoarders. Silver also recorded a modest gain after remaining unchanged for the previous two trading sessions.

The rise comes even as international bullion prices remained under pressure, highlighting the impact of domestic demand, currency movements and broader market factors on local precious-metal prices.

Gold Prices Fall in the International Market

In the global market, spot gold declined 0.5% to $4,394.57 per ounce, while silver fell more than 1% to around $65.08 per ounce.

According to Praveen Singh, Head of Commodities at Mirae Asset Sharekhan, crude oil prices have risen amid supply concerns linked to geopolitical developments in West Asia. Gold was trading near the $4,392-per-ounce level amid these developments.

Geopolitical Tensions Support Bullion Demand

Crude oil prices moved higher following the end of a 60-day ceasefire between the US and Iran. The geopolitical uncertainty has kept investors focused on safe-haven assets such as gold.

At the same time, gold-backed exchange-traded fund holdings continued to increase. Known global gold ETF holdings rose to 97.39 million ounces on Monday, providing another supportive factor for the precious-metal market.

Why Is Silver Under Pressure Globally?

Despite the rise in domestic silver prices, international silver prices remained under pressure. Kainat Chainwala, Assistant Vice President of Commodity Research at Kotak Securities, said spot silver weakened toward $65 per ounce amid elevated US Treasury yields and profit-taking.

However, the broader outlook for bullion remains supportive due to expectations of a softer US Federal Reserve policy stance, continued central-bank purchases and steady investment demand.

Fed Policy and Jackson Hole Symposium in Focus

Investors are now watching the minutes of the Federal Open Market Committee's July meeting for clues about the Federal Reserve's future monetary-policy direction.

Market participants are also closely tracking signals ahead of the Jackson Hole symposium. With uncertainty surrounding the Fed's policy path, analysts expect continued volatility in both gold and silver prices in the near term.

Gold Price Outlook: What Should Investors Watch?

The near-term movement in gold and silver prices is likely to depend on several factors, including:

US Federal Reserve interest-rate expectations

Treasury bond yields and the US dollar

Geopolitical tensions and crude oil prices

Central-bank gold purchases

Investment demand through gold and silver ETFs

Profit-booking following recent price gains