Gold prices hit an all-time high on Tuesday (23rd September), reaching ₹1,14,480 per 10 gram for 24 karat gold, ₹1,04,950 per 10 gram for 22 karat gold and, ₹85,900 per 10 gram for 18 karat gold.
Gold prices in India have surged significantly since early 2024, influenced by several factors, including geopolitical tensions, economic uncertainties, Trump’s tariffs, and a depreciating US dollar. At the global level, gold prices also skyrocketed after the US Federal Reserve sliced interest rates last week. Compared to Gold prices five years ago, in 2020, the rise has been 112%. In 2020 (September 19, 2020), prices for spot gold (24K) stood at Rs 51,619 per 10 grams on the Multi-Commodity Exchange of India (MCX). This price has now reached ₹1,09,388. Even a year ago, the price was ₹72,874. Ove