Gold Prices Skyrocket to All-Time High

Gold prices in India witnessed an unprecedented surge, reaching a historic high of Rs 96,450 per 10 grams in the national capital. This remarkable increase was fueled by robust demand from local jewellers and soaring global prices, amidst heightened US-China trade tensions.

Global and Domestic Markets Respond

Reversing a four-day decline, gold of 99.5% purity surged to Rs 96,000 per 10 grams, up from the previous close of Rs 89,750. Similarly, gold of 99.9% purity closed at Rs 96,450, a significant jump from Wednesday’s Rs 90,200. Silver also mirrored this bullish trend, leaping Rs 2,300 to settle at Rs 95,500 per kg.

Trade War Fuels Safe-Haven Demand

The escalating trade tensions between the US and China have significantly impacted global markets, with both nations imposing retaliatory tariffs. This uncertainty has driven investors towards gold as a safe-haven asset, further boosting its prices.

Long-Term Outlook Remains Bullish

Analysts predict that the combination of economic uncertainty, fears of stagflation, and geopolitical instability will continue to sustain gold's bullish momentum. Central banks' increasing gold purchases reflect a broader trend of diversification away from the US dollar.