Gold Prices Surge Amid India-Pakistan Tensions
Gold prices in the national capital soared as tensions between India and Pakistan escalated, prompting safe-haven buying. The surge in prices follows missile strikes carried out by Indian armed forces. International markets showed easing prices as US-China talks reduced immediate geopolitical concerns.
- Country:
- India
Gold prices in the national capital soared by Rs 1,000 to surpass the crucial Rs 1 lakh per 10 gram-mark on Wednesday. The escalation comes amidst heightened tensions between India and Pakistan, leading investors to rush towards safe-haven assets.
The All India Sarafa Association reported an increase in the price of gold with 99.9 percent purity, which climbed to Rs 1,00,750 per 10 grams from its previous close of Rs 99,750. This surge follows missile strikes on nine terror targets conducted by India in Pakistan and Pakistan-occupied Kashmir.
While domestic gold prices soared, global market trends showed an ease as spot gold fell by 1.8 percent. The decrease is attributed to US-China tariff talks, which have alleviated immediate geopolitical concerns, though risks remain heightened in regions like the Middle East and Ukraine.
(With inputs from agencies.)
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