Gold prices surge to record high of ₹96,450 per 10 grams after dropping below 90,000

In an unprecedented surge, gold prices in India after dropping below 90,000, jumped to a record high of ₹96,450 per 10 grams in the national capital. The sharp rise was driven by robust domestic demand and soaring global prices amid escalating US-China trade tensions, according to the All India Sarafa Association.

This rally marks a reversal from the recent four-day losing streak. Gold of 99.5% purity surged to ₹96,000 from the previous close of ₹89,750, while 99.9% purity gold closed at ₹96,450, up from ₹90,200—both achieving lifetime highs. Silver followed the same bullish trend, gaining ₹2,300 to settle at ₹95,500 per kg from ₹93,200.

The surge was also reflected in the futures market, where gold contracts for June delivery on the MCX (Multi Commodity Exchange) climbed ₹1,703 to an all-time high of ₹93,736 per 10 grams. Domestic markets remained closed on Thursday due to Mahavir Jayanti and reopened to a gold-buying frenzy.

Globally, spot gold hit USD 3,237.39 per ounce, later settling slightly lower at USD 3,222.04. Comex gold futures reached a record USD 3,249.16 per ounce during Asian trading hours, reflecting strong safe-haven demand amid geopolitical uncertainty.