The price of gold in India hit an all-time high of ₹1,01,600 per 10 grams on Tuesday because demand increased before Akshaya Tritiya and the wedding season. The domestic market reached unprecedented gold prices because of both domestic festive demand and worldwide political instability.
The price of 99.5% purity gold rose to ₹1,02,100 per 10 grams after increasing by ₹2,800 from the previous day. The gold price has increased by ₹22,650 per 10 grams since December 2024 which represents a 29% rise throughout only a few months.
The Indian people view Akshaya Tritiya on April 30 as a sacred day for buying gold because of its special significance. The high prices have not deterred buyers from visiting jewellers because weddings continue to drive up demand.
The U.S. dollar weakness together with President Donald Trump’s rate dispute with Fed Chair Jerome Powell drives up gold prices worldwide. The Multi Commodity Exchange (MCX) witnessed futures contracts exceed ₹1 lakh while spot gold reached USD 3,499.92 per ounce in the global market.
The gold price continues its historic rise because both traditional Indian celebrations and worldwide political disturbances drive investors toward the yellow metal.
