The May gold contracts were trading at Rs 100413 around 9 pm today, gaining by Rs 937 or 0.94% over the Wednesday closing price. Meanwhile, Silver’s May contracts were hovering around 1,00,587, jumping by Rs 1,111 or 1.12% around this time.
Silver had last hit the Rs 1 lakh mark on October 21, 2024.
The domestic price took cues from international prices as spot gold prices on Comex were trading at $2,984.50 per troy ounce while silver prices were at $34.18 per troy ounce, gaining by $0.442 or 1.31%.
While Trump’s 25% tariffs on steel and aluminium imports to the US “without exceptions or exemptions” is already in place from March 12, Wednesday, the US President’s latest salvo has come in the form of threats of imposing 200% tariff on alcohol from EU countries unless what he called a “nasty 50% tariff on whisky” is stopped.
Meanwhile, the European Union has vowed to to impose its own duties on American goods as a response. Bloomberg reported that it could be on goods worth $28.3 billion.