Gold jumps to record Rs 1.38 lakh per 10 grams in Delhi

New Delhi: Gold prices surged to a fresh lifetime high in the national capital on Monday, tracking a sharp rally in global markets and strong safe-haven demand from investors.

According to the All India Sarafa Association, gold rose by Rs 1,685 to hit a record Rs 1,38,200 per 10 grams in Delhi.

Silver also witnessed a strong rally, climbing to an all-time high of Rs 2,14,500 per kilogram, inclusive of all taxes.

The white metal jumped by Rs 10,400 per kg — reflecting strong buying interest and global price momentum.

Market experts said bullish sentiment remained strong in the bullion market. They said gold and silver extended their upward move and touched fresh record highs amid growing uncertainty in the US economy.

In the international market, spot gold surged by $80.85, or nearly 1.9 per cent, to reach a record level of $4,420.35 per ounce.

Analysts noted that investor interest in precious metals has increased sharply as expectations of interest rate cuts in the US strengthen and fiscal concerns continue to rise.

Lower interest rates generally reduce the opportunity cost of holding gold, making it more attractive for investors.

Earlier in the day, spot gold had already climbed to $4,383.73 per ounce on reports that the US Federal Reserve may cut interest rates further in 2026, coupled with strong demand for safe-haven assets.

Gold has seen a sharp rise this year, gaining around 67 per cent so far amid geopolitical tensions, trade tariffs and global economic uncertainty.

According to analysts, gold and silver prices had already advanced last week and carried the momentum into the new week by touching fresh lifetime highs in both domestic and international markets.

The rally followed the US Federal Reserve’s third interest rate cut of 25 basis points this year.

IANS