Gold Prices Surge to Record High Amidst Global Trade Tensions

Gold prices reached a record high of Rs 98,100 per 10 grams in the national capital due to global trade tensions. This surge reflects geopolitical uncertainties and a rising demand for safe-haven assets as the US-China trade conflict escalates, highlighting gold's strong market position.

Gold prices soared to an unprecedented Rs 98,100 per 10 grams in the national capital, marking an all-time high amidst increasing global demand for safe-haven assets. This surge comes as tensions between the US and China intensify, prompting investors to seek security in gold.

The All India Sarafa Association reported that gold of 99.9 percent purity previously closed at Rs 96,450 per 10 grams on Tuesday, showcasing a significant rise in just one day. This marks the highest single-day gain since April 11, with gold prices having risen by 23.56 percent this year.

Geopolitical uncertainty, paired with the US government's decision to raise tariffs on Chinese goods to 245 percent, has driven this upswing. Experts predict that until the situation ameliorates, gold will remain a preferred investment. Spot gold reached USD 3,318 per ounce globally, while US policy moves continue to impact market dynamics.

(With inputs from agencies.)