Hyderabad: In an unprecedented surge, the price of 10 grams of 24-carat gold, inclusive of taxes, reached Rs 1,00,016 on Monday, marking the first time in India’s history that the precious metal has crossed the ₹1 lakh milestone.
The sharp rise is attributed to ongoing global economic uncertainties, particularly the trade tensions between the United States and China, and the weakening of the US dollar. These factors have prompted investors to shift towards safer assets like gold.
On the international market, gold prices surged to $3,405 per ounce on Monday, translating to approximately ₹1 lakh in Indian currency. By 5:30 PM IST, the domestic price of gold had increased by nearly ₹2,000 compared to Friday’s closing.
Gold prices have seen a substantial rise of over Rs 20,000 so far in 2025. From approximately Rs 79,000 on December 31, 2024, gold has recorded a nearly 26% increase in just three months.
Silver prices are also approaching record levels, with the cost of one kilogram standing at ₹99,299. This follows a brief period during which silver prices had surpassed the Rs 1 lakh mark.
On the Multi Commodity Exchange (MCX), gold futures for June delivery surpassed the Rs 96,000 mark for the first time. In a single day, the contract rose by Rs 1,621, reaching an intraday high of Rs 96,875.
Market analysts suggest that unless the geopolitical tensions between the U.S. and China de-escalate, gold prices may continue their upward trajectory.