Gold Prices Soar to All-Time High, Inch Closer to ₹1 Lakh Mark

NEWS CHARIOT:-In a significant development that has stirred global and domestic markets, gold prices have surged to an all-time high, bringing joy to investors but concern to potential buyers. On April 21, spot gold prices in the international market witnessed a sharp jump of 1.7%, reaching $3,383.87 per ounce. This surge follows the previous session’s high of $3,384 per ounce, marking a historic peak for the precious metal.

Market analysts suggest that the consistent rise in gold prices is being driven by global economic uncertainties, inflation fears, and safe-haven buying. With no signs of a downturn, gold continues to attract investor attention worldwide. While this trend has proven profitable for those who have already invested in gold, it is proving to be a challenge for those looking to make new purchases.

The impact of this international price rise is being felt strongly in India as well, one of the largest consumers of gold in the world. On the same day, gold prices in India also spiked sharply. According to data from GoodReturns, the price of 24-carat gold has climbed to ₹99,860 per 10 grams. This rise has brought the price tantalizingly close to the ₹1 lakh mark—a psychological barrier for many Indian buyers.

Experts believe that the current trend may continue in the coming days, especially if global factors remain unchanged. “If the market momentum stays strong, we could see gold touching ₹1 lakh per 10 grams very soon,” said a senior market analyst. The rising prices may also lead to a temporary dip in consumer demand, especially with the wedding season approaching, as many buyers may choose to wait and watch.

With gold traditionally seen as a hedge against inflation and economic instability, the current rally is expected to maintain its momentum in the short term. However, for retail buyers, this surge could mean postponing purchases until prices stabilize.

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