New Delhi, October 6: Gold prices surged by a massive Rs 9,700, reaching a fresh high of Rs 1,30,300 per 10 grams in the national capital on Monday. The sharp rise was fueled by safe-haven demand in global markets and the depreciation of the rupee.

As reported by the All India Sarafa Association, the price of 99.9% purity gold had closed at Rs 1,20,600 per 10 grams on Friday. In the local bullion market, gold with 99.5% purity also saw a significant jump, rising by Rs 2,700 to reach an all-time high of Rs 1,22,700 per 10 grams (inclusive of taxes). This marked an increase from the previous session’s closing price of Rs 1,20,000 per 10 grams.

The surge in gold prices reflects growing investor interest amid global economic uncertainties and the weakening of the rupee.

Tags: prameyanews