NEW DELHI, Oct 6: Gold prices in Delhi surged by Rs 9,700 on Monday to a fresh peak of Rs 1,30,300 per 10 grams, driven by safe-haven buying in overseas markets and a sharp depreciation of the rupee. On Friday, the yellow metal of 99.9% purity had closed at Rs 1,20,600 per 10 grams, according to the All India Sarafa Association.
In the local bullion market, 99.5% purity gold jumped Rs 2,700 to reach a record Rs 1,22,700 per 10 grams (all taxes included), up from Rs 1,20,000 in the previous session.
Silver also recorded strong gains, climbing Rs 7,400 to a lifetime high of Rs 1,57,400 per kilogram (all taxes included), after closing at Rs 1,50,000 per kg on Friday.
Globally, spot gold rose nearly 2% to $3,949.58 per ounce, marking an all-time high, while silver gained over 1% to touch $48.75 per ounce, reflecting strong demand for safe-haven assets amid market uncertainties.
The rally comes as investors turn to precious metals amid currency weakness and global economic volatility, bolstering demand for both gold and silver.
