Gold Prices Soar to ₹96,450 per 10g Amid Global Tensions

Gold prices in India have reached an unprecedented high, with 24-carat gold priced at ₹96,450 per 10 grams in Delhi. This significant surge of ₹6,250 from the previous close is attributed to escalating US-China trade tensions and a spike in investor demand for safe-haven assets. ​

Factors Driving the Surge in Gold Prices

Escalating US-China Trade Tensions

The intensifying trade conflict between the United States and China has led investors to seek refuge in gold, traditionally considered a safe-haven asset during times of geopolitical uncertainty. ​

Increased Domestic Demand

In India, the surge is also fueled by heightened demand from local jewellers and retailers, especially with the wedding season underway, leading to increased purchases of gold jewellery. ​

Gold Prices Across Major Indian Cities

Note: Prices are subject to market fluctuations.

Silver Joins the Rally

Not just gold — silver prices also saw a dramatic increase, rising ₹2,300 to ₹95,500 per kg, from the previous close of ₹93,200. This spike follows similar bullish sentiment in international markets.

Market Snapshot

Global Gold Market Trends

Internationally, gold prices have also seen a significant rise, with spot gold reaching an intraday high of $3,248 per ounce. This global uptick is reflective of the metal's role as a hedge against inflation and market volatility. ​

Investment Insights

Financial experts suggest that the current economic climate makes gold a favorable investment option. The SPDR Gold Shares ETF (GLD) is currently trading at $298.10, indicating strong investor confidence in gold-backed assets.​

Conclusion

The surge in gold prices underscores the metal's enduring appeal as a safe-haven investment amid global economic uncertainties. Investors are advised to stay informed about market trends and consider diversifying their portfolios accordingly.