Gold Revisits Record Rs 89,450 Per 10gm

Gold prices surged to a new record high in the domestic market, while in the international market, spot gold rallied to near-record highs buoyed by safe-haven demand and cooler-than-expected US consumer inflation data, said Saumil Gandhi, sr analyst (commodities) at HDFC Securities

New Delhi: Gold prices climbed by Rs600 to revisit the all-time high of Rs89,450 per 10 grams in the national capital on Thursday amid a firm global trend, according to local market men.

The precious metal of 99.9 per cent purity had settled at Rs88,850 per 10 grams on Wednesday. Gold of 99.5 per cent purity advanced by Rs600 to reclaim its all-time high level of Rs89,050 per 10 grams. It had settled at Rs88,450 per 10 grams. On February 20, the yellow metal of 99.9 and 99.5 per cent purity inched up by Rs50 to hit an all-time high of Rs89,450 and Rs89,050 per 10 grams. Silver prices also rallied by Rs1,000 to hit nearly a five-month high of Rs1,01,200 per kg. The white metal had finished at Rs1,00,200 per kg in the previous market close.

Meanwhile, gold futures also reached a new all-time high amid market uncertainties. On Multi Commodity Exchange (MCX), 24-carat gold April futures rose by 0.21 per cent, touching Rs86,875 per 10 grams. The surge in gold prices is mainly driven by global instability. Uncertainty surrounding US President Donald Trump’s tariff policies has led investors to turn to gold as a safe-haven asset.As a result, international gold prices have climbed to $2,945 per ounce on March 13. Meanwhile, in futures trade on the Multi Commodity Exchange (MCX), gold contracts for April delivery rallied by Rs210 or 0.24 per cent to hit a record high of Rs86,896 per 10 grams in the evening session.