In a significant development that has caught the attention of both investors and consumers, gold prices in India surged past the ₹1 lakh mark per 10 grams for 24-karat gold. This sharp rise comes amid growing global uncertainty and renewed investor demand for the safe-haven asset.

24K Gold Price in Delhi Nears ₹1 Lakh, GST Pushes It Higher

On April 22, the 24-karat gold price in Delhi jumped by ₹1,650, reaching ₹99,800 per 10 grams. Once the goods and services tax (GST) is added, the total retail price crosses ₹1 lakh, as per data quoted by the All India Sarafa Association.

This marks a milestone moment for retail gold buyers in India, as the precious metal hits record highs due to strong demand and global market cues.

MCX Gold Futures Hit New Peak

On the Multi Commodity Exchange (MCX), gold futures for June 5, 2025, expiry reached an all-time high of ₹98,910 per 10 grams. The rise in futures prices reflects bullish sentiment and investor optimism about gold’s performance in the near term.

Global Factors Fuel Bullion Rally

Gold prices are not just rising in India. Globally, spot gold soared 1.7% to $3,482.26 an ounce, briefly touching a new peak of $3,494.66 earlier in the session. Meanwhile, U.S. gold futures gained 2%, climbing to $3,492.60 an ounce.

This global rally in gold is being driven by:

Rising political tensions in the United States.
Criticism by former President Donald Trump aimed at Federal Reserve Chair Jerome Powell, which weakened market sentiment.
A recent interest rate cut of 25 basis points by the European Central Bank (ECB), which further supported gold prices.

Expert Views: High Volatility Ahead

Market analysts are watching the situation closely. According to expert commentary, gold is currently showing high volatility, and unless there are positive developments in the US-China trade relationship, gold prices could continue their upward momentum.