National Gold Prices Reach Record Heights Amid Economic Uncertainties
Gold prices soared to a record high, driven by safe-haven demand amid economic uncertainties and U.S. government shutdown. Silver followed suit, reaching unprecedented levels. Analysts attribute this surge to economic concerns, geopolitical events, and investor interest as the market anticipates further gains.
- Country:
- India
Gold prices took a significant leap on Monday, reaching a staggering Rs 1,23,300 per 10 grams in the national capital, marking a fresh peak as investors flock to the safe-haven asset amidst global economic uncertainties.
The All India Sarafa Association reported that gold of 99.9 percent purity saw an unprecedented rise, closing at Rs 1,20,600 on the previous Friday. Locally, gold of 99.5 percent purity jumped similarly, hitting a record Rs 1,22,700 per 10 grams.
Economic experts note that concerns over a prolonged U.S. government shutdown are driving the demand. Silver prices also saw robust gains, reaching new records. Internationally, spot gold and silver rose significantly, with analysts anticipating further market momentum.
(With inputs from agencies.)
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