Gold At New Peak Of Rs 98,170/10g

New Delhi: Gold prices rose by Rs 70 to hit yet another record high of Rs 98,170 per 10 grams in the national capital on Thursday amid firm global demand, according to the All India Sarafa Association.

On Wednesday, the precious metal of 99.9 per cent purity soared by Rs 1,650 to hit an all-time high of Rs 98,100 per 10 grams. Gold of 99.5 per cent purity increased by Rs 70 to touch a fresh peak of Rs 97,720 per 10 grams against Wednesday’s closing level of Rs 97,650 per 10 grams.

“Gold prices soared to record highs, fuelled by a weaker dollar, escalating trade war tensions, and growing concerns over global economic growth following US President Donald Trump’s tariff announcements,” Chintan Mehta, Chief Executive Officer at Abans Financial Services, said. He said gold prices continue to surge as global uncertainty persists, with the US-China trade war disrupting supply chains and stoking fears of inflation and recession.

As markets grapple with these risks, volatility remains elevated, reinforcing gold’s role as a reliable hedge. Adding to the bullish sentiment, major banks have turned increasingly positive on gold, pointing to broad-based sell-offs in equities, bonds, and currencies, alongside steady inflows into gold-backed ETFs and sustained central bank buying, Mehta added.