Gold prices surge: 10 grams now near ₹88,000, surge by ₹5,020 in just 10 days

Gold prices continue to soar, dealing a blow to consumers while benefiting investors. On Thursday, the price of 10 grams of gold reached ₹87,800 in Delhi, marking a sharp ₹1,000 increase from ₹86,800 on Wednesday. Silver prices followed suit, rising by ₹500 to touch ₹98,000 per kilogram.

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The surge comes amid the wedding season and ahead of the Ugadi festival, making gold purchases increasingly expensive. In Hyderabad, 10 grams of gold now costs ₹87,800, while silver stands at ₹98,000 per kg. Bengaluru recorded 10 grams of gold at ₹86,510, with silver reaching ₹99,500 per kg. The price of 22-carat gold per gram stands at ₹7,930, while 24-carat gold is priced at ₹8,651 in Bengaluru.

In just 10 days, gold prices have skyrocketed by ₹5,020 per 10 grams, creating concerns among buyers. The primary drivers behind this surge include the ongoing US-China trade war and global economic uncertainty. Investors continue to flock to gold as a safe-haven asset amid stock market volatility and a weakening rupee.

As gold edges closer to ₹90,000 per 10 grams, consumers planning weddings and festivals are feeling the pinch, while investors reap the benefits. The big question remains: will gold cross ₹1 lakh by the end of the wedding season?