Gold Prices: Gold, a metal close to every Indian’s heart, is once again proving its worth, not just as jewellery, but as a powerful financial asset. The glitter of gold has turned brighter as prices in India reached a historic high, leaving both investors and common buyers stunned.
In a dramatic jump, gold prices surged by ₹1,650 in just one day, pushing the price of 10 grams to ₹98,100 in the national capital, the highest rate ever seen. With just ₹2,000 left to hit the ₹1 lakh mark, the buzz in the bullion market is electric. For many, it’s not just a number, it symbolises gold’s unmatched value during uncertain times.
What’s driving this massive surge? The answer lies far beyond India’s borders. Growing economic tension between the United States and China has rattled global markets. The U.S. has raised tariffs on Chinese goods to a sharp 245%, and China has responded fearlessly, signalling that it’s ready for an extended trade war. This tension pushes investors to seek refuge in gold, widely considered the safest investment during turbulent times.
It’s not just gold that’s glittering; silver has joined the rally too. In Indian markets, silver prices have crossed ₹1,00,100 per kilogram. As more investors look for alternatives to volatile stock markets, silver is fast becoming a strong contender for those wanting to diversify their assets.
Internationally, spot gold reached a record $3,318 per ounce before slightly easing to $3,299.99. These global price movements have a direct impact on Indian rates. On Tuesday, 99.9% pure gold was priced at ₹96,450 per 10 grams. Just a day later, it rocketed to ₹98,100, showing how closely India’s gold market is tied to international developments.
Many assume gold prices in India are driven purely by local demand and availability, but the reality is more complex. Global financial activity, political instability, and economic policies all influence the value of this precious metal. Trading activities in major global markets like the London OTC Spot Market and COMEX Gold Futures also affect pricing in India.
Globally, the London Bullion Market Association (LBMA) sets gold prices in US dollars, providing a benchmark for global traders. In India, the Indian Bullion Jewellers Association (IBJA) uses this rate, adds import duties and local taxes, and then determines the final price that retail sellers pay. This ensures that domestic rates reflect both global trends and local policies.
With rising geopolitical stress and economic uncertainty, experts believe gold prices may continue to climb. Predictions that gold might cool down have proven wrong, and now, investors are eyeing the magical ₹1 lakh figure. If the current momentum continues, that milestone may not be far away.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Market conditions change rapidly. Please consult a certified financial advisor before making any investment decisions.
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