Gold rates add Rs 400 to hit all-time high level of `1.06 lakh per 10 grams

New Delhi: Gold prices surged for the seventh straight session, adding Rs 400 to hit an all-time high of Rs 1,06,070 per 10 grams in Delhi on Tuesday, as investors sought safe-haven assets amid tariff uncertainty and a weakening rupee. The yellow metal of 99.9 per cent purity had settled at Rs 1,05,670 per 10 grams on Monday, the All India Sarafa Association said.

Gold of 99.5 per cent purity also gained Rs 400 to touch a record Rs 1,05,200 per 10 grams, against Rs 1,04,800 in the previous session. Prices have risen Rs 5,900 in just seven sessions and are up 34.35 per cent this year, from Rs 78,950 on December 31, 2024.

Renisha Chainani, Head of Research at Augmont, said gold’s rally followed a US appeals court ruling that deemed the White House’s reciprocal tariffs unlawful, adding to global trade uncertainty. Analysts noted the rupee’s fall to an all-time low of 88.18 per dollar and geopolitical concerns further boosted bullion’s appeal.

Meanwhile, silver prices advanced Rs 100 to hit a fresh high of Rs 1,26,100 per kg. The metal has soared 40.58 per cent so far in 2025, outpacing gold, after gaining Rs 7,100 in the past three sessions. Globally, silver briefly topped $41 per ounce, the strongest level since 2011, before easing on profit-booking.

Internationally, spot gold traded at $3,477.41 per ounce after hitting an intraday high of $3,508.54. Analysts expect bullion to stay firm on safe-haven demand, with markets eyeing upcoming US jobs data for further cues on the Federal Reserve’s policy outlook.

However, spot silver declined 1.08 per cent to trade at $40.29 per ounce. Analysts attributed the sharp fall in silver prices to sudden profit-booking by short-term investors.