Gold prices hit record highs in India as 24K rates exceed ₹1.5 lakh

Gold and silver prices in India have reached record highs, driven by strong safe-haven demand and global economic factors. In Delhi, 24-carat gold prices surged to approximately ₹1,50,870 per 10 grams, marking a significant increase in the retail and wholesale bullion markets.

Globally, gold prices rose by 1.3% over a week, trading at around $4,194.36 per ounce. This upward trend is attributed to geopolitical tensions in West Asia and the Red Sea region, expectations of interest rate cuts by the US Federal Reserve, and a weakening US dollar.

Domestic demand remains high due to the upcoming festive season and Navratri. While 24-carat gold has seen the most dramatic rise, 22-carat gold remains stable at around ₹1,38,300 per 10 grams in major cities like Delhi and Mumbai. Silver prices have also fluctuated, reaching levels near ₹2,34,900 to ₹2,40,000 per kilogram depending on the specific market and city.