Gold Prices Hit New Highs: 24-Carat Rate Inches Closer to ₹1 Lakh Mark

Gold prices in India surged for the fourth consecutive day, breaching previous records and pushing closer to the ₹1 lakh mark per 10 grams for 24-carat gold. After witnessing a brief decline earlier this week, the precious metal is on a steady upward trend.

According to market data, the price of 24-carat gold rose by ₹270, reaching ₹95,670 per 10 grams. Similarly, 22-carat gold climbed by ₹250 to ₹87,700 per 10 grams, while 18-carat gold gained ₹210 to ₹71,760 per 10 grams. Meanwhile, silver prices also increased by ₹100, bringing the cost of 1 kg of silver to ₹97,100.

Gold on Track to Cross ₹1 Lakh?

So far, gold prices have surged 6.6%, and market experts anticipate further growth. The upward momentum is being attributed to global trade tensions, particularly between the US and China, leading to a sharp rise in spot gold prices, which touched USD 3,200. Additionally, the US dollar index dipping to 99.78 is supporting bullish sentiment in the gold market.

Gold Rates in Major Cities (Per 10 Grams)

• Chennai
  • 22-carat: ₹87,700
  • 24-carat: ₹95,670
• Bengaluru
  • 22-carat: ₹87,700
  • 24-carat: ₹95,670
• Hyderabad
  • 22-carat: ₹87,700
  • 24-carat: ₹95,670
• Mumbai
  • 22-carat: ₹87,700
  • 24-carat: ₹95,670

With the wedding season approaching and global uncertainties persisting, traders suggest gold could cross ₹1,00,000 per 10 grams soon, especially if international pressure on currencies and geopolitical tensions continue.