Gold and Silver Prices Unlikely to Fall Until Greenland Issue Ends, Say Experts
The ongoing Greenland issue has emerged as the primary reason behind the sharp rise in gold and silver prices worldwide. The US government has imposed a 10% tariff on European Union countries over the Greenland matter. Former US President Donald Trump has also warned of imposing additional tariffs if EU nations do not cooperate.
Following these tariff threats and geopolitical tensions surrounding Greenland, the US stock market witnessed a sharp decline. As a result, investors are pulling money out of equities and shifting their investments to safe-haven assets such as gold and silver. This global trend has directly impacted the Indian market, driving precious metal prices to record highs.
Experts state that gold and silver prices are unlikely to decline until the Greenland issue is resolved.
Today’s Gold Prices in Chennai
22-carat gold: ₹14,250 per gram
Per sovereign (8 grams): ₹1,14,000
10 grams: ₹1,42,500
In just four trading days, gold prices in Chennai have surged by:
- ₹1,020 per gram
- ₹8,160 per sovereign
This marks the first time gold prices have risen by more than ₹8,000 per sovereign within just four days.
