New Delhi, March 18 – Gold prices continued their record-breaking rally on Tuesday, surging by ₹500 to reach an all-time high of ₹91,250 per 10 grams in the national capital’s bullion market. The rise was driven by strong global trends and sustained buying from stockists and retail investors, as per agency report.
On Monday, 99.9% pure gold had already reached a new peak of ₹90,750 per 10 grams after a sharp ₹1,300 increase. The 99.5% purity gold also climbed ₹450 to touch ₹90,800 per 10 grams, surpassing its previous close of ₹90,350 per 10 grams.
According to Soumil Gandhi, Senior Commodity Analyst at HDFC Securities, gold maintained its upward momentum, setting new records in both domestic and international markets. He attributed this surge to concerns over US economic policies under President Donald Trump, fears of a recession, and ongoing geopolitical uncertainties, which have made gold a preferred safe-haven investment.
Additionally, weak US macroeconomic data has fueled expectations that the Federal Reserve will implement multiple interest rate cuts this year, further boosting gold’s appeal.
While gold soared to new highs, silver prices remained stable at ₹1,02,500 per kilogram, holding firm at its historic peak.
Jatin Trivedi, Vice President of Commodity and Currency Research at LKP Securities, noted that rising geopolitical tensions in the Middle East, combined with China’s additional economic stimulus measures, have strengthened gold’s safe-haven demand.
On the global front, spot gold surged to a record $3,028.49 per ounce, while COMEX gold futures climbed to an all-time high of $3,037.26 per ounce.
Chintan Mehta, CEO of Abans Financial Services Ltd, stated that increasing fears of an economic slowdown in the US have driven gold prices to unprecedented levels. Investors are now eagerly awaiting the Federal Reserve’s policy decisions for further clarity on market direction.
