Gold prices on Tuesday zoomed by Rs 1,100 to reclaim the Rs 89,000 mark in the national capital on increased buying by jewellers and stockists and strong global trends, according to the All India Sarafa Association. The metal of 99.9 per cent purity rallied by Rs 1,100 to Rs 89,000 per 10 grams from the last close of Rs 87,900 per 10 grams.
Gold of 99.5 per cent purity advanced by Rs 1,100 to Rs 88,600 per 10 grams from the previous close of Rs 87,500 per 10 grams.
Traders said bullion prices surged after the US President Trump confirmed tariffs on Canada, Mexico and China from Tuesday.
China and Canada also announced retaliatory measures against the US, leading to an escalation in trade tensions across North America.
Silver prices climbed Rs 1,500 to Rs 98,000 per kg driven by industrial demand and the gold’s rally. The white metal had finished at Rs 96,500 per kg on Monday.
On the Multi Commodity Exchange, gold contracts for April delivery increased by Rs 806 to Rs 86,190 per…