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Gold prices rise Rs 300 to Rs 1,01,570/10 g amid concerns over Fed independence
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....old prices rise Rs 300 to Rs 1,01,570/10 g amid concerns over Fed independence<BR>PTI News<BR>Dated:- 28-8-2025<BR>PTI<BR>New Delhi, Aug 28 (PTI) Gold prices rose Rs 300 to Rs 1,01,570 per 10 grams in the national capital on Thursday as investors turned to the safe-haven asset amid rising concerns over the independence of the US Federal Reserve following President Donald Trump's threats to fire Fe....
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....d Governor Lisa Cook. Besides, traders said that a weaker US dollar, expectations of a reduction in interest rate by the Federal Reserve, and ongoing tariff developments have driven the price movement. The precious metal of 99.9 per cent purity had settled at Rs 1,01,270 per 10 grams in the previous market session. In the local market, gold of 99.5 per cent purity climbed Rs 200 to Rs 1,01,0....
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....00 per 10 grams (inclusive of all taxes) on Thursday. It had closed at Rs 1,00,800 per 10 grams on Wednesday. Silver prices stayed unchanged at its all-time high level of Rs 1,20,000 per kilogram (inclusive of all taxes) on Thursday. "Gold prices gained on Thursday, supported by a pullback in the US dollar and ongoing demand for safe-haven assets. Market participants are discussing the legalit....
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....y of President Donald Trump's ability to terminate Lisa Cook," Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, said. The fight between Trump and Federal Reserve Governor Lisa Cook escalated after Cook's lawyer said she will sue Trump's administration to stop its attempt to fire her. The US central bank has been keeping rates steady since late 2024 citing inflation fear due to T....
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....rump's unpredictable tariff policies. This lawsuit will clarify the extent of the White House's authority over the US central bank, especially considering concerns about its independence, which has contributed to the recent increase in demand for safe-haven metals, Gandhi added. In the global markets, spot gold increased by USD 8.09, or 0.24 per cent to trade at USD 3,405.55 per ounce in New Y....
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....ork. "Gold prices are holding firm above USD 3,390 per ounce, with traders awaiting key US macroeconomic data, including Q2 GDP, weekly jobless claims, for further clues on the economic outlook and potential monetary policy direction," Kaynat Chainwala, AVP Commodity Research at Kotak Securities, said. However, spot silver is trading 1 per cent higher to trade at USD 38.97 per ounce. PTI HG HV....
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....A<BR> News - Press release - PIB....