Gold price hits all-time high, touches Rs 90,000 per 10 gram

Gold prices reached an all-time high on Tuesday, with 24-carat gold touching Rs 90,000 per 10 grams for the first time ever. 

According to sources, the price of the yellow metal surged by Rs 440 setting a new benchmark in the market. Similarly, the price of 22-carat gold also saw a significant rise, increasing by Rs 400 to reach ₹82,500 per 10 grams.

Besides gold price, cost of silver have also witnessed a sharp increase. The price of silver surged by Rs1,100 per kg and is now priced at Rs 1,13,000 per kg. The continuous rise in gold and silver prices is being attributed to global market trends and increasing investor demand.

What Experts Say

Market experts suggest that geopolitical uncertainties and inflation concerns are driving investors toward safe-haven assets like gold and silver, leading to these record-breaking prices. Buyers and investors are keenly watching the market for further developments.

“The ongoing trade war between the US, China, Canada, and Mexico is resulting in the hike of gold price. If this continues, the price of yellow metal may near Rs 1 lakh per 10 gram,” said Trinath Lenka, a financial expert.

Also Read: Reliance JIO comes up with unlimited offer ahead of IPL season

Factors Behind the Surge in Gold Prices

The sharp rise in gold prices is driven by multiple global and economic factors. Geopolitical tensions, inflation concerns, and a weaker dollar have increased demand for gold as a safe-haven asset. Central banks worldwide are also boosting their gold reserves, adding to the demand. Additionally, uncertainties in global financial markets and a surge in investor interest have further pushed prices to record highs. Experts predict that unless economic stability improves, gold prices may continue their upward trend.