India
Gold prices hit record ₹1 lakh per 10 gm ahead of Akshaya Tritiya
Gold prices reached an all-time high in India due to fears of President Trump’s potential dismissal of Federal Reserve Chair Jerome Powell. This has led to investors withdrawing from US stocks, bonds, and the dollar. In India, gold prices reached ₹1 lakh per 10 grams, causing shockwaves through India’s middle class. Indian housewives, known for their gold savings.
Could feel the pinch the most ahead of Akshaya Tritiya. Spot gold was up 1.7% at $3,482.26 an ounce, while US gold futures firmed 2% to $3,492.60. Investors have been giving a wide berth to US assets amid tariff worries and Trump-Powell dramas, keeping gold in prime position to capitalize on the dollar’s woes. Trump reiterated his call for an immediate reduction interest.
Rates, warning that the US economy could face a slowdown. Google was accused of “misusing” dominance by forcing OEMs to bundle the Play Store with Android TV OS, restricting rival to keep its demand and price elevated in the near term Android versions Gold prices in India have surged to an unprecedented ₹1 lakh per 10 grams ahead of Akshaya Tritiya, marking a significant milestone in the precious metal’s valuation.
Global Economic Factors Driving the Surge
The rally in gold prices is largely driven by escalating geopolitical tensions and economic concerns. Notably, apprehensions surrounding potential changes in U.S. monetary policy, including speculations about President Donald Trump’s stance towards Federal Reserve Chair Jerome Powell, have unsettled global markets. Such uncertainties have prompted investors to seek refuge in gold, traditionally considered a stable investment during turbulent times.
Additionally, a weakening U.S. dollar, coupled with sustained buying by global central banks and institutional investors, has further bolstered gold’s appeal. On the Multi Commodity This surge is attributed to a confluence of global economic uncertainties and heightened investor demand for safe-haven assets. Exchange (MCX), gold futures for June delivery ₹98,910.
Domestic Market Response
In India, the retail price of 24-carat gold touched ₹99,800 per 10 grams in Delhi, with reached additional costs like GST and making charges pushing the final price above ₹1 lakh. Despite the steep prices, consumer interest remains robust, particularly in traditional markets like Mumbai’s Zaveri Bazaar, where buyers are reportedly rushing to purchase gold anticipation.
Jewellers are observing a shift in consumer preferences, with increased demand for lighter of further price hikes. jewellery pieces, gold coins, and digital in gold options. There’s also a noticeable uptick in interest for diamond-studded and gemstone jewellery, as consumers explore alternatives amid soaring gold prices per 10 grams, while spot gold prices soared.
Outlook for Akshaya Tritiya
Akshaya Tritiya, considered an auspicious occasion for gold purchases, is expected to witness sustained buying despite the price surge. Industry experts anticipate that the cultural to $3,482.26 per ounce internationally.significance of the festival will continue to drive demand, albeit with consumers potentially opting for smaller quantities or alternative forms of gold.
Financial advisors recommend that investors maintain a diversified portfolio, with a suggested 10-15% allocation to gold, to hedge against market volatility. As global economic conditions remains strong, particularly for light jewellery, coins, and digital with people opting for smaller quantities investment remain uncertain, gold’s status as a safe-haven asset is likely.
Gold prices in India have reached an all-time high of ₹1 lakh per 10 grams ahead of Akshaya Tritiya, driven by global economic uncertainties, a weaker U.S. dollar, and strong demand from investors seeking safe-haven assets. On the MCX, gold futures touched ₹98,910 per 10 grams, with retail prices crossing ₹99,800 in Delhi. Despite the steep prices, consumer interest.
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