Gold Prices Steady as Silver Surges Amid Geopolitical Tensions

Gold prices remained stable on Tuesday (September 8), while silver rose by over 1% in international trade. The precious metals sector is being influenced by geopolitical tensions and expectations of US monetary policy changes. Gold was trading at $4,477.40 per ounce on the COMEX exchange, up $0.80 from the previous close.

Silver outperformed gold, increasing by 1.13% to $67.50 per ounce. The move comes a day after gold prices in Delhi fell ₹650 to ₹1.60 lakh per 10 grams, while silver remained unchanged at ₹2.40 lakh per kg. Higher oil prices and renewed geopolitical uncertainty are boosting demand for traditional safe-haven assets such as gold.

According to Prithviraj Kothari, Managing Director at RiddiSiddhi Bullions Ltd, gold whipsawed through last week, sliding to a three-week low near $4,300 an ounce before rallying above $4,540 an ounce on dovish Fed comments. The near-term direction for gold could depend heavily on upcoming US inflation data, which is expected to provide clues on the Federal Reserve's interest-rate path.