Gold Shatters Records Amidst Global Tensions

Gold prices skyrocketed, exceeding Rs 1 lakh per 10 grams in Delhi, driven by domestic demand and global economic uncertainty. The surge, influenced by US monetary tensions and trade disputes, reflects investor preference for safe-haven assets. Meanwhile, silver prices remained stable.

In an impressive climb, gold prices in the national capital surged past Rs 1 lakh per 10 grams on Tuesday, driven by a robust buying spree from local jewellers and stockists. This surge coincides with heightened demand during Akshaya Tritiya and the ongoing wedding season.

The All India Sarafa Association reported a significant rise of Rs 1,800 for the 99.9% pure gold, reaching a record peak of Rs 1,01,600 per 10 grams. Meanwhile, gold of 99.5% purity also witnessed a substantial jump by Rs 2,800, setting a new high of Rs 1,02,100 per 10 grams.

This bullish trend is largely attributed to global geopolitical and economic uncertainties. As tensions escalate between President Trump and US Fed Chair Jerome Powell over interest rates, and as US-China trade conflicts linger, gold's allure as a safe investment continues to grow. Despite this upward trajectory, silver prices have remained flat.

(With inputs from agencies.)