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.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Inappropriate for MLAs seeking free IPL tickets, says D.K. Suresh
Bengaluru: Bengaluru Milk Union Ltd President D.K. Suresh on Monday said it is inappropriate for MLAs to seek free IPL tickets, adding that those interested in watching matches should pay for them personally.
Speaking to reporters near his residence in Sadashivanagar, he said, “IPL is a commercial tournament and does not represent the country. It is not right for public representatives to focus too much on such matters.”
Referring to the recent controversy during the RCB celebrations, he said, “let us find out who benefited the most from the statements made during the incident.” He also pointed out that BJP MLAs had received IPL tickets as well.
Responding to discussions about relocating the Chinnaswamy Stadium, Suresh said the government has already approved the construction of a new stadium at a location he had proposed.
“I had suggested building a stadium in Surya City and submitted a proposal for it. Bengaluru needs four stadiums in four directions to cater to its growing population and encourage youth participation in sports,” he said.
He noted that apart from Kanteerava Stadium, KSCA, and the Football Stadium, there are limited facilities in the city.
“When I was a Lok Sabha member, I had proposed allocating 100 acres in my constituency at Surya City. The land was later earmarked and the plan approved,” he added.
Suresh said he has discussed the project with Minister Zameer Ahmed Khan, Rajiv Gandhi Housing Corporation Chairman Shivalingegowda, and Anekal MLA Shivanna.
“The Cabinet has now approved the project, and a stadium will be developed on around 50–60 acres,” he said.
He further added that he has requested the Deputy Chief Minister to build another stadium at Shivarama Karanth Layout through the BDA, where 40 acres have been allocated. Plans are also being discussed to develop a well-equipped stadium in Bidadi.
Commending state government's recent bilingual policy move, Suresh said forcing children to learn three languages could affect their comprehension.
“It is a good decision to make two languages compulsory. Learning a third language should be left to the choice of students and parents,” he said.
Responding to criticism from BJP leaders, he said their tendency is to oppose every decision of the government.
“To please their central leadership, they take a pro-Hindi stance. Instead, they should advocate for the adoption of Kannada in all states,” he said.
When asked about the earlier three-language policy under Congress, he said, “the situation is different now. Today, the focus should be on quality learning. Kannada should remain the primary language, while students and parents can choose an additional language.”
