Gold price scales new peak

New Delhi: Gold price stayed firm for the seventh consecutive session and added Rs400 to hit a fresh peak of Rs1,06,070 per 10 grams in the national capital amid unabated chase for safe-haven assets triggered by sweeping US tariffs and tumbling rupee against American currency.

According to the All India Sarafa Association, the precious metal of 99.9 per cent purity had settled at Rs1,05,670 per 10 grams on Monday. The price of gold of 99.5 per cent purity also increased Rs400 to hit a new record of Rs1,05,200 per 10 grams. It had settled at Rs1,04,800 per 10 grams in the previous market session.

The yellow metal has added Rs5,900 per 10 grams in the past seven sessions. Gold prices have risen 34.35 per cent in the current calendar year, climbing from Rs78,950 per 10 grams on December 31, 2024.RenishaChainani, Head of Research at Augmont, said,

“Gold prices gained to hit record highs on Tuesday after a US appeals court last week upheld a decision that the White House’s so-called reciprocal tariffs were unlawful.”