Gold Price Explodes! Crosses ₹1.3 Lakh for the First Time in India
Gold Price Explodes! Crosses ₹1.3 Lakh for the First Time in India
New Delhi, Oct 6: Gold prices shot up by a massive ₹9,700 on Monday, breaching the ₹1.3 lakh per 10 grams mark for the first time ever in the national capital. The rally comes amid a sharp fall in the rupee and strong safe-haven demand in global markets.
As per the All India Sarafa Association, 24-carat gold (99.9% purity) soared to ₹1,30,300 per 10 grams, compared to ₹1,20,600 on Friday. Similarly, 22-carat gold (99.5% purity) rose by ₹2,700 to touch a record ₹1,22,700 per 10 grams (inclusive of taxes), up from ₹1,20,000 in the last session.
Silver too mirrored the yellow metal’s rally, jumping by ₹7,400 to reach ₹1,57,400 per kilogram — a new all-time high — against ₹1,50,000 recorded on Friday.
Globally, spot gold surged nearly 2% to an unprecedented USD 3,949.58 per ounce, while silver gained over 1% to hit USD 48.75 per ounce, as investors turned to precious metals amid currency volatility and geopolitical uncertainty.
