Gold Reaches New High as Domestic Demand Rises; Silver Falls by ₹200

Gold prices surged on Monday, reaching new highs due to strong buying from jewellers and favorable global market trends. The All India Sarafa Association reported that the price of gold rose by ₹250, hitting a record ₹78,700 per 10 grams.

In the previous session on Monday, gold, a cherished asset among Indian consumers, had closed at ₹78,450 per 10 grams, according to PTI. However, silver saw a decline, dropping by ₹200 to ₹94,000 per kilogram compared to ₹94,200 last Friday.

Gold with 99.5% purity also saw an increase of ₹200, reaching a new high of ₹78,300 per 10 grams, compared to its previous level of ₹78,100. Traders attributed the rise to strong domestic demand from stockists and retailers.

Experts further noted that declining equity markets have driven investors toward gold, a traditional safe-haven asset during uncertain times.