Gold prices skyrocketed by ₹5,080 to hit an all-time high of ₹1,12,750 per 10 grams in the national capital on Tuesday in line with strong global trends.
Gold prices have added ₹33,800 per 10 grams or nearly 43 per cent in the current calendar year, climbing from ₹78,950 per 10 grams on December 31, 2024.
Silver prices also surged by ₹2,800 to hit a record high of ₹1,28,800 per kilogram on Tuesday. It had settled at ₹1,26,000 per kg in the previous market session.
Gold of 99.9 per cent purity had closed at ₹1,07,670 per 10 grams on Monday.
Traders said weak labour market data in the US last week has raised the likelihood of monetary policy easing, which pushed investors towards safe-haven assets such as gold.
Silver prices may climb as high as ₹1.5 lakh per kg in the coming months, supported by robust industrial demand, a weakening dollar and safe-haven flows amid global uncertainties, according to a report by Motilal Oswal Financial Services.
The white metal has benefited from a mix of investment and industrial demand, geopolitical tensions and expectations of monetary policy easing across major economies, it said.