The Indian bullion market witnessed a remarkable surge in gold prices, with 24-carat gold crossing the Rs 1,00,000 mark per 10 grams for the first time ever. This significant increase in gold prices was attributed to a combination of factors, including heightened global demand for the yellow metal, geopolitical tensions, and a weakening U.S. dollar.
- Heightened Global Demand for Gold
- Geopolitical Tensions and Global Instability
- Weakening U.S. Dollar and Expectations of Interest Rate Cuts
- Increased Accumulation of Gold Reserves by Central Banks
The India Bullion and Jewellers Association (IBJA) reported that the price of 24-carat gold surged from Rs 96,670 to Rs 1,00,000 per 10 grams — a sharp increase of Rs 3,300 within 24 hours.
| Gold Type | Price per 10 Grams (Rs) |
|---|---|
| 24-carat | 1,00,000 |
| 22-carat | 97,600 |
| 20-carat | 89,000 |
| 18-carat | 81,000 |
Market experts attributed the dramatic price surge to heightened global demand for gold as a safe-haven asset amid ongoing geopolitical and economic uncertainty. “The yellow metal’s new all-time high is primarily driven by escalating tensions between President Trump and Federal Reserve Chair Jerome Powell over potential interest rate cuts,” said Colin Shah, Managing Director of Kama Jewellery.
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