In a historic surge, gold prices touched the ₹1 lakh mark in the physical market on Monday evening, creating a new all-time high for the precious metal in India.
The price of 24 karat (999 purity) gold was recorded at ₹97,200 per 10 grams, and after including the 3% Goods and Services Tax (GST), the final consumer price stood at ₹1,00,116.
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This milestone marks a significant moment for investors and jewellers, reflecting the continued global and domestic demand for the yellow metal amid ongoing geopolitical tensions, inflation concerns, and market volatility.
Gold prices have been on a steady rise over the past few months, fueled by strong safe-haven buying, central bank purchases, and expectations of interest rate adjustments by major global economies.
Here’s a concise background section you can add to your article to give readers better context on the price surge:
Background: What’s Driving the Gold Price Surge?
Gold prices have witnessed a strong rally in recent months due to a combination of domestic and international factors. Global economic uncertainties, rising inflation, and continued geopolitical tensions—particularly in the Middle East and Eastern Europe—have prompted investors to flock to gold as a safe-haven asset.
In India, seasonal demand, including upcoming festivals and the wedding season, has further boosted buying. Additionally, central banks around the world have been increasing their gold reserves, adding upward pressure on prices. With expectations of potential interest rate cuts in key economies, gold has remained attractive to investors seeking protection against currency depreciation and market volatility.
