Gold prices jump to all-time high at Rs 84,900 per 10g

Gold prices surged to a record high of Rs 84,900 per 10 grams in the national capital on eve of Union Budget 2025, fueled by strong domestic demand and global market trends.

According to a Money Control report, citing the All India Sarafa Association, the price of 99.9% pure gold climbed by Rs 1,100 in a single session, marking the third consecutive day of gains. This rally has seen gold appreciate by Rs 5,510 or 7% since the beginning of the year when it was trading at Rs 79,390 per 10 grams, added the report.

Gold with 99.5% purity saw a significant rise, climbing by Rs 1,100 to reach Rs 84,500 per 10 grams. Similarly, silver prices also surged, increasing by Rs 850 to settle at Rs 95,000 per kg.

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Why is Gold Price Increasing?

Global Gold Prices: Spot gold breached the $2,800 per ounce mark in international markets, boosting sentiment in the Indian market.
Safe-Haven Demand: Renewed tariff threats by the US against Mexico, Canada, and China have pushed investors toward gold.
Monetary Policies: Anticipated rate cuts by major central banks, including the European Central Bank, have supported gold’s bullish trend.
Union Budget Anticipation: Market participants are awaiting India’s 2025-26 Union Budget, which may influence duty structures and further impact gold prices.

With inputs from agencies