Gold surges Rs 4,000, reaches new lifetime high of Rs 1.37L
image for illustrative purpose
New Delhi: Gold prices surged by Rs 4,000 to touch an all-time high of Rs 1,37,600 per 10 grams in the national capital on Monday, tracking firm global cues, according to the All India Sarafa Association.
The precious metal of 99.9 per cent purity had closed at Rs 1,33,600 per 10 grams on Friday.
“Gold prices scaled even higher as international spot gold surged towards the $ 4,350 zone, triggering a strong rally in the domestic market,” Jateen Trivedi, VP Research Analyst, Commodity and Currency, LKP Securities, said.
He added that the yellow metal reflected the global strength with a sharp gain, touching a fresh lifetime high.
Gold prices had earlier appreciated by Rs 3,200 to touch an all-time high of Rs 1,34,800 per 10 grams on October 17.
“The move was driven by renewed safe-haven demand and expectations around upcoming US economic data, including non-farm payrolls and the Core PCE Price Index scheduled this week, focus has firmly shifted to US macro cues, which are expected to keep volatility elevated,” Trivedi added.
During the current calendar year, gold prices have surged Rs 58,650, or 74.3 per cent, from Rs 78,950 per 10 grams on December 31, 2024.
