Gold Nears ?1 Lakh per 10 Grams!

Gold prices continue to surge, hitting a new all-time high on Wednesday. According to the India Bullion and Jewellers Association (IBJA), the price of 24-carat gold rose by ?1,477 per 10 grams in the last 24 hours.

As per IBJA, the price of 24-carat gold increased by ?1,477 to ?94,579 per 10 grams, up from ?93,102 per 10 grams.

The price of 22-carat gold rose to ?92,310 per 10 grams, and 18-carat gold climbed to ?76,610 per 10 grams.

The spot market, along with the futures market, witnessed a surge in gold prices. On the Multi Commodity Exchange (MCX), the June 6, 2025, gold contract surged by 1.90% to ?95,435 per 10 grams.

In the international market, gold prices also remain at an all-time high, reaching $3,320 per ounce.

The rise in gold prices is attributed to global uncertainties. Additionally, the ongoing tariff war between the US and China is driving investors toward gold, considered a safe-haven asset, which is supporting the price surge.

Kaynat Chainwala, Assistant Vice President of Commodity Research at Kotak Securities, stated that gold touched record highs due to concerns over escalating trade wars.

She further noted that former President Trump's latest policy moves are increasing nervousness among global investors.

Investors are now closely monitoring upcoming US retail sales data and Federal Reserve Chairman Jerome Powell’s speech scheduled for Wednesday.

Since the start of 2025, the price of 24-carat gold per 10 grams has risen by ?18,417, or 24%, from ?76,162 to ?94,579.

Related Business News

Wholesale Inflation Rises to 3.88% in March; Oil and Metals Become Costlier, Sharp Surge in Jewellery Prices

The Wholesale Price Index (WPI)-based inflation rate rose to 3.88 percent in March, up from 2.13 percent in February,the Ministry of Commerce and Industry said on Wednesday. The rise in wholesale inflation in March was primarily driven by an increase in prices of crude petroleum and natural ga....

‘We Will Not Allow China to Buy Iranian Oil’: US Treasury Secretary Scott Bessent

Amid ongoing tensions in the Middle East, the United States has taken a tough stance on China, making it clear that it will not allow Beijing to purchase oil from Iran. US Treasury Secretary Scott Bessent said that the proposed blockade will ensure that no Chinese or other ships can pass throu....

Economy News: Stock market falls and gold-silver prices drop after US-Iran talks fail

Local stock markets witnessed a decline on Monday. The BSE Sensex fell by 703 points, while the NSE Nifty dropped 208 points. The failure of talks between the US and Iran for an agreement, along with fears that the conflict may continue for a long time, caused crude oil prices to rise sharply,....

LPG Crisis Deepens Amid War; Opposition Targets Government Over Black Marketing

NEW DELHI: As the US-Israel-Iran conflict enters its fourth week, the deepening energy crisis is severely affecting households across the country, leading to a growing shortage of cooking gas. Complaints about LPG shortages and rising black marketing have intensified political confrontations an....

Gold prices surge again, silver becomes over Rs10,000 more expensive

BHUBANESWAR: On Wednesday, a sharp rise was seen in the prices of gold and silver. As a result, the price of 24-carat gold reached over ?1.46 lakh per 10 grams, while the price of silver crossed ?2.34 lakh per kg. According to the India Bullion Jewellers Association (IBJA), the price of 24-car....