Gold trades near $4.9k/oz, silver at $95/oz

MUMBAI: Unabated rally in gold and silver prices continued with the yellow metal trading near the $4,900 per-ounce mark, an all-time high level while the white metal traded near the $95/oz mark. Geopolitical uncertainties and trade-related disruptions are the main factors for the rally in gold. In addition, demand for silver outstripping supply around the world is also pushing silver prices up, market analysts said.

In the domestic market, the weakness of the rupee is an additional factor that's driving the prices of the two precious metals up. On Wednesday, gold traded above the Rs 1.5 lakh/10gm mark and silver at over Rs 3.2lakh/kg. The latter has risen significantly over the last nine days.