Gold Glimmers: Surging Prices Amid Global Unrest

Gold prices in the national capital surged beyond Rs 1 lakh per 10 grams amid a buying spree driven by upcoming festivities like Akshaya Tritiya and the ongoing wedding season. Global uncertainties, US dollar weakness, and geopolitical tensions further fueled the demand for the precious metal.

In a significant financial development, gold prices soared to unprecedented heights, crossing the crucial Rs 1 lakh threshold per 10 grams in the national capital. The surge is largely attributed to increased buying by local jewellers and stockists, driven by the approaching Akshaya Tritiya and ongoing wedding season.

Macro-economic uncertainties and global geopolitical tensions are bolstering gold's status as a safe haven investment. The ongoing US-China trade war, coupled with conflicts between US President Donald Trump and Federal Reserve Chair Jerome Powell over interest rates, have also played a crucial role in driving up prices.

As silver prices remain stable, market analysts observe that even amidst a weakening US dollar, the sentimental and cultural importance of investing in gold during auspicious times ensures sustained demand, reflecting on the intricate dynamics of global market influences on local price trends.

(With inputs from agencies.)