Hyderabad: Gold prices surged to an all-time high on Friday, touching ₹1,10,030 for 10 grams of 24-carat gold. This marks the first time in India that gold has crossed the ₹1.10 lakh threshold, capping a steep ₹6,000 rise over the past six days.
According to bullion traders, this unprecedented spike reflects a combination of global economic uncertainty, currency volatility, and domestic seasonal demand.
Gold prices hit ₹1.10 lakh amid global uncertainty, festival demand
Analysts attribute the sharp rise to growing investor interest in gold as a safe haven asset. With the US dollar weakening and crude oil prices climbing, investors are shifting capital from equities to gold. Geopolitical instability and inflation concerns have further fueled the trend.
In India, the traditional spike in demand ahead of wedding and festival seasons has added additional upward pressure on prices.
Retail jewellers say footfall has declined slightly as prices move out of reach for middle-income buyers. “Gold is becoming aspirational again rather than accessible,” said a Hyderabad-based trader.
Experts warn that volatility may continue depending on international market cues and central bank policy responses.
