Retail Gold Price
Gold price hits historic Rs 1 lakh milestone
Gold prices in India crossed the Rs. 1 lakh mark in the retail market on Tuesday, triggering excitement among investors.
The gold June futures on the Multi Commodity Exchange (MCX) on Tuesday rallied to touch a new record high of Rs 99,178 per 10 grams.
It is nearly Rs 1,900 up from its previous closure.
In the physical market, gold was priced at Rs 97,200 per 10 grams on Monday. After including 3% GST, the retail rate crossed the Rs 1 lakh mark, reported India Today.
Why is the gold price rising?
Experts have pointed to heightened global uncertainty due to renewed tensions between President Donald Trump and the US Federal Reserve over rate cuts and the intensifying trade war between the US and China as the key drivers behind the spike.
Comex gold was trading close to $3,395 per troy ounce on Tuesday, marking a sharp upward escalation.
Anuj Gupta, Head - Commodity & Currency at HDFC Securities, told Mint, “The US President Donald Trump's recent criticism of the US Fed Chair Jerome Powell has pulled down the US dollar rates to a three-year low. This is the major reason for gold prices today climbing to a new peak. However, increasing concerns about a global economic slowdown due to heightened US-China trade tensions is already there to fuel demand for gold as a safe-haven bet.”
Nigel Green, CEO of deVere Group, told the newspaper, “Trump wants rates down—and soon. Powell isn’t budging. That brewing conflict has now burst into the open, and global investors are no longer waiting to see how it ends. The risk is now twofold. First, Powell holds the line, and policy stays restrictive longer than markets had priced. Second, Trump intervenes—publicly or politically—sparking concerns over central bank independence.”
Jateen Trivedi, VP Research Analyst at LKP Securities. told India Today: " Gold prices extended their record-breaking rally as the fresh week kicked off with strong early buying."
“The rally is being supported by escalating tariff tensions, concerns over the US economic outlook, and the looming US debt crisis. Continued buying from China, global central banks, and institutional investors has added momentum," he said.
Analysts believe the gold price would remain volatile.
Rahul Kalantri of Mehta Equities told India Today, “In INR, gold has support at Rs 96,750–96,200 and resistance at Rs 97,050–97,690. Silver’s support lies at Rs 94,680, with resistance near Rs 97,550.”
Gold prices have escalated over 26% or Rs 20,800 per 10 grams so far in 2025.
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