Gold Prices Surge to Record High Amid Investor Rush

Gold prices hit a record high of Rs 83,750 per 10 grams in the national capital, driven by strong buying from jewellers and retailers. Weak US consumer data and a falling dollar index boosted gold's appeal as a safe-haven asset, leading to increased investor interest.

Gold prices soared to a new record, reaching Rs 83,750 per 10 grams in the national capital. This surge, driven by significant buying from jewellers and retailers, reflects a broader trend of investors flocking to safe-haven assets.

The precious metal's rise comes amid a retreat in the dollar index and weak consumer data from the US, which collectively bolstered the sentiment for gold. In contrast to its previous settling at Rs 82,840, gold marked a strong recovery.

Meanwhile, silver prices also reflected bullish markets, climbing Rs 1,000 to Rs 93,000 per kg. Analysts point to the impact of expected US Fed policy announcements and the current tech market landscape as influential factors.

(With inputs from agencies.)