Gold prices surge to record Rs 96,540 per 10g, nears Rs 1 lakh mark

Gold prices skyrocketed on Friday, reaching an all-time high of Rs 96,540 per 10 grams of 24-carat gold, marking an unprecedented single-day jump of Rs 6,000. The sharp spike has brought the price dangerously close to the Rs 1 lakh mark, leaving even affluent buyers stunned.

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This surge is driven by heightened global uncertainty following U.S. President Donald Trump’s latest tariff policy announcement. Investors worldwide are seeking safer investment havens, and gold, historically viewed as a risk-free asset, has emerged as the top choice.

Analysts attribute the price hike to escalating tensions in the ongoing trade war between the United States and China. As fears over economic instability grow, both domestic and international markets have witnessed a surge in gold buying.

"Gold has become the go-to asset in times of geopolitical and economic uncertainty," said one market expert. "With the US-China trade war intensifying, investors are moving their capital into gold, pushing prices to record highs."

The rapid rise in prices is causing widespread concern, especially among prospective buyers during the upcoming wedding and festival seasons. As gold edges closer to the Rs 1 lakh milestone, buyers and jewellers alike are anxiously watching market trends.

Experts suggest that unless global tensions ease, the bullish trend in gold may continue in the near future.