New Delhi: Gold prices soared by Rs 5,080 on Tuesday, reaching an all-time high of Rs 1,12,750 per 10 grams in the national capital, following strong global cues.
The All India Sarafa Association reported that 99.9 per cent purity gold had closed at Rs 1,07,670 per 10 grams on Monday. Silver also witnessed a sharp rise, climbing Rs 2,800 to a record Rs 1,28,800 per kilogram, inclusive of all taxes, compared to Rs 1,26,000 per kg in the previous session.
Global markets mirrored the rally, with gold reaching an all-time high of $3,659.27 per ounce on Tuesday. It later traded at $3,652.72 per ounce, up $16.81 or 0.46 per cent.
Traders attributed the surge to weak US labour market data last week, which increased expectations of monetary policy easing. This drove investors toward safe-haven assets like gold. The retreat of the US dollar further fueled bullion prices, with the dollar index falling 0.17 per cent to 97.29.
