Gold rate today: Gold prices soared by Rs 580 to reach Rs 97,030 per 10 grams in the national capital on Monday, supported by strong cues from international markets, according to the All India Sarafa Association.On Friday, gold of 99.9% purity had closed at Rs 96,450 per 10 grams.Similarly, gold of 99.5% purity rose by Rs 580 to Rs 96,580 per 10 grams, up from its previous close of Rs 96,000, news agency PTI reported.Silver prices also climbed, gaining Rs 500 to settle at Rs 98,500 per kilogram, compared to Rs 98,000 on the last trading day.On the Multi Commodity Exchange (MCX), the most active gold futures contract rallied Rs 1,182, or 1.28%, to trade at Rs 93,623 per 10 grams. Silver futures for July delivery rose Rs 662 to Rs 95,980 per kilogram.In global markets, spot gold advanced USD 39.05, or 1.22%, to USD 3,241.82 per ounce, as investors turned to safe-haven assets amid global uncertainties and expectations around U.S. monetary policy.Market participants are closely watching upcoming U.S. economic data, including manufacturing and services PMI as well as housing figures, which could influence future interest rate decisions by the Federal Reserve.Analysts at Goldman Sachs have projected that gold may rise to USD 3,700 per ounce by the end of 2025, with potential to reach USD 3,880 in the event of a recession, as central banks and investors continue to boost their holdings.
