Gold prices in India have reached an unprecedented milestone, crossing ₹1 lakh per 10 grams for the first time. Multiple factors, including rising demand, global market trends, and the upcoming wedding season, drive the price surge.
Gold Prices in India: Breaking All Records
As of today, 24-carat gold is priced at ₹1,01,350 per 10 grams, while 22-carat gold stands at ₹92,900 per 10 grams. This historic high has left many consumers and investors in awe, marking a significant shift in India’s gold market.
Factors Driving the Price Surge
Experts attribute the spike to several reasons:
- Global Demand: Increased purchasing from central banks and investors worldwide.
- Economic Uncertainty: Gold remains a safe-haven asset during volatile financial times.
- Wedding Season: Traditionally, gold sees a sharp rise in demand during wedding months in India.
Impact on Consumers and Markets
Middle-class buyers and small investors are particularly affected by the price surge. Many jewellery buyers are reconsidering their purchases, given the sharp increase in costs. Meanwhile, local markets in cities like Bhubaneswar are witnessing a slowdown in retail sales, despite continued interest from high-end consumers.
