Advertisment

Gold Price Hits Record High at Rs 8,432 Per Gram as Investors Turn to Safe-Haven Assets Amid Global Uncertainty

Gold price today hits an all-time high of Rs 8,432 per gram, driven by safe-haven demand amid global uncertainties, with US tariffs contributing to inflation fears.

author-image
Harsh
New Update
Gold Price

Photograph: (IANS)

Gold prices in India have surged to a record high today, reaching Rs 8,432 per gram. This represents an increase of Rs 1,322 from Rs 8,310 per gram on February 4, driven by rising global uncertainties and safe-haven buying. Here's a breakdown of the key factors behind this price surge.

Advertisment

Surge in Gold Prices Due to Global Tensions

Gold's all-time high is largely attributed to increased demand for safe-haven assets, especially after China's response to US tariffs. These tariffs, initially imposed by former US President Donald Trump, have affected global trade dynamics and led to a rise in inflation expectations. According to Motilal Oswal Financial Services, the tariffs are seen as inflationary, pushing investors toward gold, which is considered a reliable hedge against both inflation and geopolitical risks.

Regional Gold Prices Across Major Cities

Today, 22-carat gold is priced at Rs 8,230 per gram. On the Multi Commodity Exchange (MCX), April gold futures touched Rs 84,200 per 10 grams, reflecting the bullish trend. In major Indian cities, the prices of 24-carat gold are as follows:

Delhi: Rs 85,383 per 10 grams

Chennai: Rs 85,231 per 10 grams

Mumbai: Rs 85,237 per 10 grams

Kolkata: Rs 85,235 per 10 grams

Silver Prices Remain Stable with Modest Gains

While gold prices have seen a significant jump, silver prices have remained relatively stable. On MCX, March silver futures are trading at Rs 95,674 per kilogram, with an increase of Rs 1,400 this week. Regional silver prices show slight variations:

Chennai: Rs 1,08,600 per kilogram

Delhi: Rs 1,01,500 per kilogram

Mumbai: Rs 1,00,800 per kilogram

Kolkata: Rs 1,02,300 per kilogram

Globally, spot gold rose by 0.2%, reaching $2,847.33 per ounce, while US gold futures remain steady at $2,876.10 per ounce. Silver also gained 0.2%, trading at $32.15 per ounce.

This increase in gold prices highlights the growing demand for precious metals amid uncertain global conditions.

Gold price
Advertisment
Advertisment Advertisment