Gold prices in India touched a new all-time high of Rs. 72,500 per 10 grams on Saturday, driven by heightened global geopolitical tensions and strong safe-haven demand from investors seeking refuge from market volatility.
## Price Movements
Gold prices across major Indian markets showed significant gains:
– Mumbai (MCX): Rs. 72,500/10g (+2.1%)
– Delhi: Rs. 72,650/10g (+2.0%)
– Chennai: Rs. 72,550/10g (+1.9%)
– Silver: Rs. 88,500/kg (+1.5%)
## Global Factors
International gold prices rose to USD 2,180 per ounce, their highest level in three months. Rising tensions in the Middle East and uncertainty over global economic growth boosted safe-haven demand.
## Dollar Weakness
A weaker US dollar, trading at 3-month lows, provided additional support to gold prices. The Dollar Index fell below 103 as expectations of Federal Reserve rate cuts in 2026 gained momentum.
## Domestic Demand
Physical demand in India remained robust ahead of the wedding season. Jewellers reported steady buying despite elevated price levels.
## Central Bank Buying
Central banks globally continue to accumulate gold reserves, with the Reserve Bank of India adding 16 tonnes to its reserves in the last quarter.
## Investment Demand
Gold ETF inflows in India reached Rs. 2,500 crore in January, reflecting strong investor appetite for the yellow metal.
## Expert Outlook
Analysts expect gold prices to remain elevated in the near term, with potential to test Rs. 75,000 per 10 grams if global uncertainties persist.
