Gold climbs Rs 100 to new record high of Rs 1,13,100 in Delhi markets
New Delhi, Sep 11 (PTI): Gold prices hit a fresh lifetime high of Rs 1,13,100 per 10 grams in the national capital on Thursday, advancing by Rs 100 on sustained buying by stockists, according to the All India Sarafa Association.
Gold prices have been on a bull run this year, skyrocketing by Rs 34,150 or 43.25 per cent, from Rs 78,950 per 10 grams on December 31, 2024.
The precious metal of 99.5 per cent purity also advanced Rs 100 to touch a fresh record peak of Rs 1,12,600 per 10 grams (inclusive of all taxes).
"Gold prices have reached all-time highs as market risks have escalated, such as inflationary worries, mounting public debt, and weakening US growth. Exchange-traded fund flows, especially in Asia, have been a swing factor for gold prices," said Renisha Chainani, Head - Research at Augmont.
According to Sandip Raichura, CEO – Retail Broking & Distribution and Director at PL Capital, gold has had a blockbuster year, with domestic prices up more than 40 per cent in 2025.
"The surge has been driven by heavy central bank buying, strong inflows into exchange-traded funds, expectations of multiple rate cuts, and persistent geopolitical tensions linked to tariffs," Raichura said.
These factors have made gold the safe-haven of choice, though fresh allocations at record levels now carry the risk of volatility, he added.
In the international market, however, gold prices softened, with spot gold trading 0.52 per cent lower at USD 3,621.91 per ounce. Spot silver also slipped 0.35 per cent to USD 41.01 per ounce.
"Investors are awaiting the latest US consumer inflation report, which is scheduled to be released later in the day.
"The report is expected to provide further clarity on inflation, potentially influencing the magnitude of the Federal Reserve's anticipated interest rate cut next week," said Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities.
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National Herald case: Shivakumar calls Delhi Police notice 'harassment'
Bengaluru (PTI): Karnataka Deputy Chief Minister D K Shivakumar on Saturday termed the Delhi Police’s notice to him, seeking financial and transactional details as part of its probe into the National Herald case, as “harassment” and said he will fight it legally.
Condemning the move, Shivakumar, who is also the state Congress chief, questioned the need for a separate police probe when the ED had already filed a chargesheet in connection with the case.
The notice issued by the Economic Offences Wing (EOW) states that Shivakumar is “supposed to have vital information” pertaining to the National Herald case registered on October 3 this year, against Congress leaders Sonia Gandhi and Rahul Gandhi.
“It is very shocking to me. I have provided all the details to the ED. The ED had summoned me and my brother (former MP D K Suresh) also. There is nothing wrong, it is our (party) institution (National Herald, Young India), and we being Congressmen, we have supported the institution, there is no hide and seek, everything is in black and white,” Shivakumar said.
Speaking to reporters here, he said, “I don’t know. After ED has filed a charge sheet, there was no need for the police (Delhi police) to register a case. We will take up the case, we will fight it in the court of law.”
In the notice dated November 29, the EOW has summoned Shivakumar to appear before it or provide the requested information by December 19 latest.
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Calling the move as nothing but “harassment”, the Deputy CM said, “What is there in it? It is our money, we can give it to anyone, whomever we like, when we pay taxes. There is nothing involved.”
Already Prevention of Money Laundering Act (PMLA) case has been registered and a chargesheet has been filed, he said. “What more can they do to harass Sonia Gandhi, Rahul Gandhi and others. They are trying to create confusion.”
Asked if he will appear on December 19, Shivakumar replied that he will examine the legal implications. “It is being done to harass. I condemn it.”
“I don’t know, it was a surprise to me, yesterday I got a notice. I have just studied it, still I will have to go through it again and reply to it. Suresh also had donated some money, earlier being a MP,” he added.
