Gold price soars Rs 9,700 to storm past Rs 1.3 lakh/10 g in Delhi as rupee hits record low

Gold prices skyrocketed by Rs 9,700 to scale a fresh peak of Rs 1,30,300 per 10 grams in the national capital on Monday, lifted by safe-haven buying in the overseas markets and depreciation in the rupee.

According to the All India Sarafa Association, the yellow metal of 99.9 per cent purity had closed at Rs 1,20,600 per 10 grams on Friday.

In the local bullion market, gold of 99.5 per cent purity jumped by Rs 2,700 to hit a record high of Rs 1,22,700 per 10 grams (inclusive of all taxes) on Monday. It had settled at Rs 1,20,000 per 10 grams in the previous market session.

Silver prices also witnessed robust gains. The white metal bounced by Rs 7,400 to hit a new peak of Rs 1,57,400 per kilogram (inclusive of all taxes). It had ended at Rs 1,50,000 per kg on Friday.

In the international markets, spot gold rose nearly 2 per cent to touch an all-time high of $3,949.58 per ounce, while silver went up over 1 per cent to hit a high of $48.75 per ounce.