Gold prices in India have surged to a record high of Rs 1.31 lakh per 10 grams. This rally is fueled by a combination of strong festive season buying and global uncertainties, reinforcing gold’s status as a preferred safe-haven asset for investors.
Gold prices in India continued their upward climb on Tuesday (October 14), reaching a record Rs 1.31 lakh per 10 grams. The surge comes as festive buying intensifies and global uncertainties push investors toward the safety of the yellow metal.
According to market data, 24-carat gold was priced at Rs 12,540 per gram, up by Rs 32, while 22-carat gold rose to Rs 11,495 per gram, gaining Rs 30. 18-carat gold also witnessed a rise, trading at Rs 9,405 per gram, up by Rs 24 from the previous day.
Festive Cheer and Global Fears Fuel the Rally
The latest surge follows a steady rally seen since the beginning of October. Analysts say the spike was initially triggered by concerns over a potential US government shutdown and ongoing geopolitical tensions, which led to a rise in global gold demand.
Back home, the festive season in India—marked by Dussehra, Karva Chauth, and Diwali—has further boosted demand for both investment-grade gold and jewellery purchases.
Experts: ‘Gold Regains Its Shine as a Safe-Haven Asset’
Market analysts point to a mix of global and domestic factors driving the price rally. “With geopolitical tensions, inflation worries, and festive demand peaking, gold is regaining its shine as a preferred safe-haven asset,” said a commodities expert.
The metal has historically performed well during periods of economic uncertainty, acting as a reliable hedge against inflation and currency volatility.
Investment or Jewellery: Buyers Rush to the Bullion Market
While 24K gold remains the go-to choice for investors, 22K and 18K variants continue to dominate the jewellery market, thanks to their affordability and craftsmanship appeal.