Gold Nears Rs 1 Lakh Mark On Weak Dollar, Tariff War Woes

New Delhi: Gold prices inched closer to the psychological mark of Rs 1 lakh per 10 grams as the bullion rates surged Rs 1,650 in the national capital on Monday on weak dollar and uncertainties over US-China trade war driving demand.

According to the All India Sarafa Association, the yellow metal of 99.9 per cent purity reached Rs 99,800 per 10 grams on Monday. Its value had declined Rs 20 to close at Rs 98,150 per 10 grams on Friday.

Gold of 99.5 per cent purity bounced Rs 1,600 to hit a fresh peak of Rs 99,300 per 10 grams in the local markets. It had fallen marginally to settle at Rs 97,700 per 10 grams in the previous market close.

So far this year, the yellow metal prices have risen Rs 20,850, or 26.41 per cent, per 10 grams since December 31, last year. Silver prices also appreciated Rs 500 to Rs 98,500 per kg.