On Monday, the domestic bullion market experienced a significant upward trend, with gold in the Delhi market reaching a record price of ₹99,800 per 10 grams, just ₹200 short of crossing the ₹1 lakh mark. This surge is attributed to increased demand for gold as a safe investment amid global market uncertainties.
The Indian Bullion and Jewellers Association (IBJA) reported that 99.9% pure gold is priced at ₹99,800 per 10 grams, while 99.5% pure gold reached ₹99,300. Overall, gold prices have risen by around 26.4% this year, with a rise of ₹20,850 per 10 grams since January 1, 2025.
Market expert Mayank Mohan highlighted that tensions between the US and China, coupled with a depreciating dollar, are driving investors toward gold, further boosting demand and solidifying an upward trend in prices as fears regarding the global economy persist.
