Gold Rallies Rs 1,000; Silver Surges Rs 440

New Delhi: Gold prices surged Rs1,000 to breach the crucial Rs1 lakh per 10 gram-mark in the national capital on Wednesday as escalating tensions between India and Pakistan triggered a safe-haven buying rush. According to the All India Sarafa Association, the precious metal of 99.9 per cent purity climbed Rs1,000 to Rs1,00,750 per 10 grams from Tuesday’s closing of Rs99,750 per 10 grams. In retaliation for the Pahalgam terror attack, Indian armed forces early on Wednesday carried out missile strikes on nine terror targets in Pakistan and Pakistan-occupied Kashmir (PoK), including the Jaish-e-Mohammad stronghold of Bahawalpur and Lashkar-e-Taiba’s base in Muridke. Meanwhile, gold of 99.5 per cent purity jumped Rs1,050 to Rs1,00,350 per 10 grams on Wednesday. It had ended at Rs99,300 per 10 grams in the previous market close. The yellow metal had earlier touched its lifetime high of Rs1,01,600 per 10 grams on April 22, when it surged Rs1,800. In addition, silver prices also rose Rs440 to Rs98,940 per kg. The white metal had settled at Rs98,500 per kg on Tuesday.