Gold Soars to New Heights Amid Global Economic Uncertainty

Gold prices soared to an all-time high of Rs 1,12,750 per 10 grams on Tuesday in India's capital, reflecting strong global market trends. This marks a substantial increase of Rs 33,800 per 10 grams, or nearly 43%, since the end of 2024, according to the All India Sarafa Association.

Internationally, gold reached USD 3,659.27 per ounce, later settling slightly lower. Analysts attribute this surge to weak US labor data, potential monetary easing, and a weakening dollar, factors that have led investors to flock to safe-haven assets like gold and silver.

Experts suggest ongoing geopolitical tensions and central banks diversifying away from US bond yields are fueling this rally. The Federal Reserve's potential interest rate cuts are expected to further enhance gold's attractiveness as an investment, amid a backdrop of enduring global economic uncertainties.

(With inputs from agencies.)