In the native markets, gold of 99.5 per cent purity dipped ₹1,000 to ₹1,01,100 per 10 grams (inclusive of all taxes) on August 12, 2025. File picture: Special Arrangement
On Monday (August 11), the dear metallic of 99.9 per cent purity had settled at ₹1,02,520 per 10 grams.
In the native markets, gold of 99.5 per cent purity dipped ₹1,000 to ₹1,01,100 per 10 grams (inclusive of all taxes) on Tuesday.
“Gold prices dipped after U.S. President Donald Trump clarified on social media that there would be no tariffs on gold imports. Although an official confirmation from the White House is still pending, the announcement eased some trade-related concerns,” Abans Financial Services CEO Chintan Mehta stated.
Adding to this, the White House introduced on Monday (August 11) that the suspension of high-level tariffs on China shall be prolonged till November 11. This resolution has helped ease ongoing macroeconomic tensions for now, which has pressured gold costs downwards, Mehta added.
On Tuesday, the rupee edged increased by 10 paise to 87.65 in opposition to the U.S. greenback in early commerce.
Meanwhile, silver costs slumped by ₹2,000 to ₹1,12,000 per kilogram (inclusive of all taxes) on Tuesday. It had settled at ₹1,14,000 per kg on Monday.
On the worldwide entrance, spot gold was buying and selling at $3,347.18 per ounce, up by 0.13 per cent in New York.
‘Trump’s announcement allays fears’
Renisha Chainani, Head of Research at Augmont, stated Mr. Trump’s announcement on Monday that gold is not going to be topic to tariffs allayed issues a couple of dramatic rise within the worth of importing the metallic, inflicting costs to drop beneath $3,400 per ounce.
Spot silver rose practically 1 per cent to commerce at $37.90 per ounce within the abroad markets.
“Investors will continue to closely watch upcoming U.S. macroeconomic data, such as Consumer Price Index, Producer Price Index and retail sales, which will provide fresh cues on the Federal Reserve’s interest rate trajectory,” Ms. Chainani stated.
According to commodities market consultants, speeches from some U.S. Fed officers will play a key position in driving the near-term U.S. greenback worth dynamics and supply some significant impetus for the path of bullion costs.
The demand for the secure haven asset took successful because of hypothesis that the assembly between Mr. Trump and his Russian counterpart Vladimir Putin on Friday (August 15, 2025) may unveil a truce plan for the continued Russia-Ukraine battle, they added.
Published – August 12, 2025 03:49 pm IST
