Rising for the third consecutive day, gold prices on Friday surged Rs 2,200 to trade near a record high of Rs 1,01,540 per 10 grams in the national capital amid heightened tensions following Israel’s military strike on Iran, which drove investors to the safe-haven asset. According to the All India Sarafa Association, the precious metal of 99.5 per cent purity rallied by Rs 1,900 to Rs 1,00,700 per 10 grams.
The sharp rally in gold came after Israel’s pre-emptive military strike on Iran, escalating fears of a broader conflict in the Middle East. Simultaneously, renewed uncertainty over US trade policy, including threats of unilateral tariffs by President Trump-fuelled risk-off sentiment.
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