Gold Prices Rise Rs 100 to Rs 1,47,500 per 10 grams

Gold prices in the national capital increased by Rs 100 to Rs 1,47,500 per 10 grams on Tuesday. The yellow metal had closed at Rs 1,47,400 per 10 grams on Monday.

The increase in gold prices can be attributed to modest buying in the domestic market, according to traders. However, silver prices remained unchanged at Rs 2,26,500 per kilogram, inclusive of all taxes.

The geopolitical uncertainty surrounding the US-Iran diplomatic developments and the uncertainty over the Federal Reserve's policy outlook led to a cautious stance among investors, causing gold prices to edge up.

Bullion has remained range-bound over the last two sessions as traders await greater clarity on geopolitical risks and the future direction of US interest rates.

In the global markets, spot gold was trading lower at USD 4,049.20 per ounce. However, spot silver rose nearly 1 per cent to trade at USD 58.66 per ounce.

The increase in silver prices can be attributed to stronger-than-expected US manufacturing data, which reinforced optimism over industrial demand for the metal.

Investors are awaiting a slew of US macroeconomic data for further clarity on the Federal Reserve's monetary policy outlook.

The uncertainty surrounding the diplomatic path and a heavy data calendar ahead may cause gold and silver to face sharp two-way risk on multiple fronts, leading to range-bound prices.

The prices of gold and silver are closely watched by investors and traders, as they can have a significant impact on the overall market.

The current prices of gold and silver are a result of various factors, including geopolitical uncertainty, US macroeconomic data, and industrial demand.

In conclusion, the increase in gold prices and the flat trading of silver can be attributed to various factors, including geopolitical uncertainty and industrial demand.

The prices of these metals are expected to remain range-bound due to the uncertainty surrounding the diplomatic path and the heavy data calendar ahead.