New Delhi: Gold prices soared by ₹1,800 on Tuesday to touch a fresh peak of ₹1,15,100 per 10 grams in the national capital, driven by a weaker US dollar and expectations of a rate cut by the Federal Reserve.
According to the All India Sarafa Association, gold of 99.5 per cent purity jumped to a record ₹1,14,600 per 10 grams (inclusive of all taxes). In contrast, in the previous session, gold of 99.9 per cent and 99.5 per cent purity had declined by ₹500 each to settle at ₹1,13,300 and ₹1,12,800 per 10 grams respectively.
Silver too surged, rising by ₹570 to scale an all-time high of ₹1,32,870 per kilogram (inclusive of all taxes), compared to Monday’s close of ₹1,32,300 per kg.
Market experts attributed the sharp gains in bullion to the drop in the US dollar index, which slipped 0.28 per cent to 97.03 against a basket of six major currencies, making gold and silver more attractive for investors.
