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Gold breaches Rs 1 lakh mark
Highlights
Mumbai: In a continuation of its rally, gold prices surged by Rs 1,899 on Tuesday, marking the fourth consecutive day of gains and pushing the yellow...
Mumbai: In a continuation of its rally, gold prices surged by Rs 1,899 on Tuesday, marking the fourth consecutive day of gains and pushing the yellow metal to a historic high of Rs 99,178 per 10 grams.
On the Multi Commodity Exchange (MCX), the October futures contract briefly breached the Rs 1 lakh mark, touching an all-time high of Rs 1,00,484 per 10 grams, up nearly Rs 2,000 or 2%.
The sharp rally is being attributed to safe-haven demand, fuelled by geopolitical uncertainty, central bank gold buying, and criticism of the US Federal Reserve by President Donald Trump — developments that have collectively unnerved global markets.
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