Gold Hits New Record High of ₹96,805, May Reach ₹1 Lakh Soon
Gold prices in India have reached a new record high of ₹96,805 per 10 grams, and experts believe the price could soon touch the ₹1 lakh mark. The sharp rise in gold rates has caught the attention of investors and jewellery buyers across the country.
Several reasons are pushing gold prices higher. One major reason is global uncertainty. Many people are worried about the state of the world economy due to conflicts, inflation, and unstable financial markets. During such times, investors often turn to gold, which is considered a “safe-haven” asset. As demand for gold increases, the price also goes up.
Another reason is the weakening of the Indian rupee against the U.S. dollar. Since India imports most of its gold, a weaker rupee makes gold costlier in the local market. Higher import duties and rising global gold prices have also added pressure.
Market experts say gold could soon cross the ₹1 lakh mark if current trends continue. If global tensions rise or inflation remains high, more people may invest in gold. According to analysts, central banks around the world are also buying more gold to strengthen their reserves, which adds to the demand.
“Gold is performing well not just in India, but globally. It reflects the nervous mood of markets and investors,” said a financial advisor.
For jewellery buyers, the rising prices mean that gold is becoming more expensive, especially during the wedding season or upcoming festivals. Many buyers may delay their purchases, hoping for a price drop.
On the other hand, investors see this as an opportunity. People who already invested in gold are seeing good returns. Some investors are now turning to gold exchange-traded funds (ETFs) and digital gold for safer investments.
With gold hitting ₹96,805 per 10 grams and likely to touch ₹1 lakh soon, both buyers and investors are watching the market closely. While high prices may affect jewellery sales, gold continues to attract investors looking for security during uncertain times.