Tue Apr 22 10:00:00 UTC 2025: ## Gold Prices Soar to Record High in India, Hitting ₹1 Lakh Per 10 Grams

**New Delhi, [Date]** – Gold prices in India reached a historic high on Tuesday, breaching the ₹1 lakh mark per 10 grams for the first time in the Delhi retail market. The surge, driven by global uncertainty and increased safe-haven demand, has sent ripples through the market ahead of the upcoming wedding season and Akshaya Tritiya.

According to the India Bullion and Jewellers Association (IBJA), 24-carat gold touched ₹1,00,000 per 10 grams, a jump of ₹3,330 from Monday’s price of ₹96,670. Silver also saw a significant rise, reaching ₹95,900 per kilogram. Futures prices followed suit, with gold hitting a lifetime high of ₹99,178 per 10 grams on the MCX, a gain of ₹1,899. The October contract even surpassed ₹1 lakh, reaching ₹1,00,484 per 10 grams.

The unprecedented rise is attributed to several factors. Global uncertainties, including renewed tensions between US President Donald Trump and the Federal Reserve over interest rate cuts, and escalating trade wars between the US and China, have fueled demand for safe-haven assets like gold. A weakening US dollar, which typically boosts gold prices because it’s priced in dollars, further contributed to the surge. COMEX gold traded near $3,395 per troy ounce on Tuesday.

Central bank buying is another key factor. In a bid to prepare for economic downturns, central banks worldwide have purchased over 1,000 tons of gold in the past three years, with significant demand coming from emerging markets like China, India, and Turkey. Reports predict continued central bank buying, averaging 100 tons per month until 2025.

Analysts predict that gold prices, while volatile, may remain stable in the short term. However, they advise caution, suggesting a phased investment approach or buying on dips. They also caution that a resolution to global economic uncertainties could lead to a sharp price correction, potentially bringing the price down to $2,700-$2,850 per ounce. Despite the current bullish trend, experts recommend a cautious approach to investments.

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