Gold Prices Hit Historic Highs in India

Amid ongoing tariff wars and disappointing US macroeconomic data, coupled with a weakening rupee, gold prices have surged to unprecedented levels in the Indian market. On Thursday, the precious metal crossed the Rs 1.02 lakh per 10gm mark, reaching a peak of Rs 1,02,155 on MCX.

Local Markets React to Global Trends

Despite international gold prices remaining below their all-time highs of around $3,509 per ounce, local spot markets in Delhi and Hyderabad reported record highs of Rs 1,02,700 and Rs 1,02,550, respectively. Surendra Mehta, national secretary of the India Bullion and Jewellers Association, commented, "A depreciating rupee is adding fuel to the fire. The rising trend is likely to continue as gold is likely to move out of the resistance zone of $3,450 to $3,800 now."

Stay Informed on Market Movements

This development underscores the volatile nature of global markets and the impact of currency fluctuations on commodity prices. Investors and consumers alike are advised to stay informed with the latest business news and updates.