Gold Prices Hit Record High of ₹96,450 Amid US-China Trade Tensions
New Delhi, April 11: Gold prices surged sharply by ₹6,250 to reach an all-time high of ₹96,450 per 10 grams in the national capital on Friday, driven by strong demand from local jewellers and retailers. The spike comes amid escalating geopolitical tensions between the United States and China, pushing global investors toward the safe-haven asset.
According to the All India Sarafa Association, gold of 99.9% purity, which had closed at ₹90,200 per 10 grams on Wednesday, rebounded significantly after four consecutive sessions of decline. Gold of 99.5% purity also witnessed a similar rise, jumping ₹6,250 to hit ₹96,000 per 10 grams from its previous close of ₹89,750.
Silver prices too saw a sharp uptick, gaining ₹2,300 to reach ₹95,500 per kilogram. The white metal had closed at ₹93,200 in the previous session. Bullion markets remained closed on Thursday due to Mahavir Jayanti.
On the futures front, gold contracts for June delivery on the Multi Commodity Exchange (MCX) rose by ₹1,703 to touch another lifetime high of ₹93,736 per 10 grams.
“Gold extended its record-setting rally to hit fresh lifetime highs near ₹93,500 on MCX, defying rupee strength, as geopolitical tensions and tariff battles between the US and China escalated further,” said Jateen Trivedi, Vice President and Research Analyst – Commodity and Currency at LKP Securities.
Analysts believe continued global uncertainty and robust safe-haven demand are likely to keep gold prices elevated in the near term.
