Gold prices in India have breached the historic ₹1 lakh mark for 10 grams, driven by escalating global uncertainty, weakening US dollar, and robust domestic demand. As of Monday, 24-karat gold (99.9% purity) is retailing at ₹10,135 per gram, or ₹1,01,350 per 10 grams. Meanwhile, 22-karat gold stands at ₹9,290 per gram, and 18-karat at ₹7,601 per gram.
Global Surge Mirrors Domestic Rally Globally, gold is witnessing an unprecedented rise. Spot prices touched a record high of $3,473.03 per ounce, while US gold futures climbed 1.7% to $3,482.40 per ounce. The rally is fuelled by investor concerns over the US economy, ongoing geopolitical tensions, and erratic market signals.
Former US President Donald Trump&rsquo;s remarks targeting Federal Reserve Chair Jerome Powell and advocating for interest rate cuts have added fresh volatility to global markets. His warnings of an impending economic slowdown have weakened the US dollar, prompting investors to flee riskier assets and flock to gold.
Market Volatility and Global Tensions Ongoing tariff tensions, a potential debt crisis, and rising friction between the US and China have also contributed to the metal&rsquo;s meteoric rise. The sell-off of US assets and instability in Asian stock markets have only strengthened gold&rsquo;s appeal as a traditional hedge.
China&rsquo;s warnings against economic partnerships that could be used to pressure Beijing have further rattled markets. Meanwhile, central banks, institutional investors, and Chinese buyers continue to increase their gold holdings.
Technical Outlook According to analysts, the technical trend for gold remains bullish as long as Comex gold stays above $3,250/oz and MCX gold above ₹91,000 per 10 grams. Dips toward ₹93,000 could present new buying opportunities, though caution is advised amid the ongoing volatility.
Traders are now watching closely for fresh commentary from US Federal Reserve officials later this week, which may offer clearer guidance on inflation and future rate decisions.
Safe-Haven Status Solidifies As global uncertainty intensifies, gold continues to affirm its role as a safe-haven asset, attracting investors seeking stability. With no signs of slowdown in buying interest, the rally could sustain in the short-to-medium term.

Soaring demand, global volatility drive precious metal to record-breaking levels; investors turn to safe-haven asset

Gold Surpasses ₹1L in India, Hits Historic High

Soaring demand, global volatility drive precious metal to record-breaking levels; investors turn to safe-haven asset

April 22, 2025 | 18:07 IST