Gold Prices Surge to Record High Amid US-China Trade Tensions

Gold prices hit an all-time high of Rs 98,100 per 10 grams in the national capital, driven by US-China trade tensions and geopolitical uncertainties. Silver also saw a significant rise. The hike in prices coincides with expectations of a US interest rate cut and falling dollar values.

In a dramatic response to escalating trade tensions between the United States and China, gold prices soared to an unprecedented Rs 98,100 per 10 grams in the national capital on Wednesday. This surge comes as global investors flock toward safe-haven assets amid the ongoing geopolitical unrest.

The All India Sarafa Association reported that gold of 99.9 percent purity experienced a steep climb from Rs 96,450 per 10 grams on Tuesday. Silver, too, witnessed a notable increase, climbing Rs 1,900 to Rs 99,400 per kilogram.

Key market analysts, including Jateen Trivedi and Kaynat Chainwala, attribute the rally to persistent trade hostilities and looming macroeconomic concerns. With growing market speculation over potential interest rate cuts by the US Federal Reserve, gold's bullish trajectory appears poised to continue.

(With inputs from agencies.)