Gold prices surged by Rs 4,000 to touch an all-time high of Rs 1,37,600 per 10 grams in the national capital on Monday, tracking firm global cues, according to the All India Sarafa Association. The precious metal of 99.9 per cent purity had closed at Rs 1,33,600 per 10 grams on Friday.
'If gold's recent surge has increased its allocation beyond 15 per cent in your portfolio, now may be a good time to rebalance.'
Gold prices surged Rs 2,200 to hit a fresh peak of Rs 116,200 per 10 grams in the national capital on Monday buoyed by strong global cues as investors awaited key commentary from US Fed officials for policy direction. According to the All India Sarafa Association, the precious metal of 99.9 per cent purity had closed at Rs 1,14,000 per 10 grams on Friday.
Gold future prices sustained upward trend for the fourth straight session by surging Rs 2,048 to hit a fresh record high of Rs 100,000 per 10 grams as investors rushed to safe havens after US President Donald Trump indicated plans to overhaul Federal Reserve amid continuing global trade war jitters. On the Multi Commodity Exchange (MCX), the August delivery contract of the yellow metal bounced by Rs 2,048 or 2.1 per cent to hit a fresh peak of Rs 100,000 per 10 grams in the mid-session trade.
Gold seems to be losing its glitter in India due to a rise in prices. Demand in Q2CY24 was 149.7 tonnes - a 5 per cent drop compared to 158.1 tonnes in the same period last year, according to a report by the World Gold Council (WGC). Demand by value in April-June 2024 stood at Rs 93,850 crore, up by 14 per cent compared to Rs 82,530 crore in the same period last year.
Traders said gold prices surged on hectic buying by stockists for the marriage season and weak rupee against the dollar, making the precious metal costlier.
Rate in the global markets us normally sets price trend on the domestic front.
Silver shot up by Rs 660 to Rs 44,600 per kg
The yellow metal had gained Rs 920 in previous four trading sessions.
Gold price surged to all-time high of Rs 21,000 per ten grams; while silver rate sets a new record of Rs 44,000 per kg in the Delhi bullion market on Wednesday on hectic buying from stockists triggered by sharp rise in the global market.
Silver prices also spurted by Rs 1,100 to Rs 29,900 per kg.
Gold prices surged by Rs 150 to trade at Rs 17,140 per ten gram in New Delhi on heavy buying due to a steep rise in the metal's prices in the overseas market as the dollar weakened.
Last week, gold achieved a new peak at Rs 16,100 per 10 grams, after the precious metal in the overseas markets surged to $1,003 an ounce to a six-month high as a weaker dollar boost its appeal as an alternative investment. With most of the asset classes giving positive returns, investment demand for gold is rising, she said, adding, there has been a net inflow of about Rs 80 crore (Rs 800 million) in the last three months (June-August).
Gold prices surged by Rs 100 to close at Rs 15,090 per ten gram today on heavy buying by jewellery fabricators amid firming global trend.
Extending gains for the fifth day in a row, gold prices surged to a 52-week high here at Rs 15,000 per ten gram on aggressive buying by funds in line with firming overseas trend.
Bullion in the Asian region gained as much as 0.5 per cent to $1,222.47 an ounce, its highest level since May 19, as the euro extended its 2.4 per cent decline against the dollar last week.
A depreciating dollar and the uncertainty in the equity markets globally are adding to the sheen of the yellow metal. With gold prices surging 20 per cent in the last two months, Gold ETFs are back in focus.
Gold prices surged to set a new peak at Rs 8,890 per ten gram on the bullion market on Thursday on aggressive buying by stockists to meet the current marriage season demand.
Gold prices surged Rs 175 to a record high of Rs 8,150 per ten gram on the bullion market on Monday on sustained buying by stockists induced by a unprecedented rise in its prices in overseas markets.
Globally, gold added 0.4 per cent to $1,228.65 an ounce in Singapore.
Snapping their three-day falling trend, gold prices surged by Rs 375 to trade at Rs 26,375 per 10 grams at the bullion market.
On the domestic front, gold of 99.9 and 99.5 per cent purity surged by Rs 625 each to Rs 31,750 and Rs 31,550 per ten gram, respectively. Sovereign followed suit and rose by Rs 200 to Rs 25,100 per piece of eight gram.
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Silver declined by Rs 200 to Rs 38,550 per kg.
Gold prices surged by Rs 150 to trade at fresh three-month high of Rs 27,575.
Traders said sentiment bolstered after gold jumped to a one-month high in overseas markets as expectations the US Federal Reserve will sustain stimulus hurt the dollar, and raised demand for precious metals as an alternate investment.
Gold prices surged by Rs 650 to Rs 31,200 per ten gram on heavy purchases by stockists and retailers for the marriage season and approaching 'Diwali' festival.
Silver regained the Rs 35,000 per kg mark by gaining Rs 660.
Dhanteras' buying seemed to have been sparked by the belief that prices would remain firm
Traders said brisk buying by stockists and jewellery fabricators to meet the rising festive and wedding demand mainly led an upsurge in gold and silver prices.
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