Gold scales new peak of Rs 1.4 lakh/10g in Delhi markets as global prices hit records
New Delhi (PTI): Gold prices stayed in ascending order for the second straight day, climbing Rs 2,650 to a fresh peak of Rs 1,40,850 per 10 grams in the national capital on Tuesday, tracking robust trends in the global markets, according to the All India Sarafa Association.
The precious metal of 99.9 per cent purity closed at Rs 1,38,200 per 10 grams on Monday.
So far this year, gold prices in the domestic market have jumped by Rs 61,900, or 78.40 per cent, from Rs 78,950 per 10 grams recorded on December 31, 2024.
Silver also rallied for the second consecutive day, surging Rs 2,750 to touch a record of Rs 2,17,250 per kilogram (inclusive of all taxes). In the previous session, the white metal settled at Rs 2,14,500 per kg after registering a sharp rise of Rs 10,400 per kg.
"An unprecedented rally continues in bullion, with spot gold nearing another milestone at the USD 4,500 mark.
"The latest round of rallies is driven by expectations that the Federal Reserve will deliver more than one rate cut in 2026, alongside rising geopolitical tensions that are strengthening the safe-haven appeal of gold and silver," Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, said.
During the calendar year, silver prices have added Rs 1,27,550, or 142.2 per cent, from Rs 89,700 per kilogram recorded on December 31, 2024.
On Tuesday, spot gold increased by USD 54.3, or 1.22 per cent, to hit a record of USD 4,498 per ounce in the international markets.
"Gold has extended its sharp rally to almost USD 4,500 per ounce on geopolitical jitters and weaker dollar as markets expect the Federal Reserve to cut rates more than two times next year," Praveen Singh, Research Analyst, Mirae Asset ShareKhan, said.
During the calendar year, spot gold prices have surged by USD 1,892.23, or 72.62 per cent, from USD 2,605.77 per ounce, recorded on December 31, 2024.
Meanwhile, spot silver rose 1.4 per cent to breach the USD 70-per-ounce mark for the first time in the overseas trade. So far this year, silver prices have soared by USD 41.03, or 141.62 per cent, from USD 28.97 per ounce, recorded on December 31, 2024.
"Investors will now turn their attention towards the second estimate of third-quarter US GDP data, which is due later in the day and might provide clues into the health of the US economy and the future course of Federal Reserve's monetary policy outlook," Renisha Chainani, Head - Research at Augmont, said.
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Hormuz Strait disruptions have caused huge economic impact, energy instability in region: Navy chief
Mumbai (PTI): The Strait of Hormuz disruptions have caused severe economic impact and energy instability in the region, Indian Navy chief Admiral D K Tripathi said on Thursday amid the war in West Asia.
Speaking at an event where INS Sunayna, an offshore patrol vessel, set sail from Mumbai as Indian Ocean Ship (IOS) Sagar, the admiral said competition at sea has no longer remained confined to oil and energy.
It is now expanding towards resources that will shape future growth - such as rare earth elements, critical minerals, new fishing grounds and even data, he said.
The West Asia crisis began on February 28 after a joint attack by the US and Israel on Iran.
Iran's strikes on its neighbours along with its chokehold on the Strait of Hormuz have disrupted the world's energy supplies with effects far beyond West Asia.
"With the conflict in West Asia well into its fifth week, the disruptions in the Strait of Hormuz have caused severe economic impact and energy instability in the region," Tripathi said.
There is significant increase in the marine survey, deep-sea research activity, and Illegal Unreported and Unregulated Fishing (IUU), often encroaching upon the sovereign rights of littoral nations and exploiting gaps in monitoring and enforcement, he said.
Alongside these, threats such as piracy, armed robbery and narco-trafficking backed by unimpeded access of advanced technology to non-state actors, have also become more complex and challenging to counter, the Navy chief pointed out.
Last year alone, the Indian Ocean Region witnessed a staggering 3,700 maritime incidents of varying nature, the admiral said.
Additionally, narcotics seizures in the region exceeded USD 1 billion USD in 2025, highlighting the persistence and spread of such challenges in the region, he said.
