Gold Hits Historic Milestone, Crosses ₹1,00,000 Mark for the First Time — Here's Why Prices Are Soaring
New Delhi (The Uttam Hindu) : Gold made a new all-time high on Tuesday and for the first time the price has reached Rs 1,00,000 per 10 grams.
According to the India Bullion and Jewelers Association (IBJA), the price of 24 carat gold has increased to Rs 1,00,000 per 10 grams. Earlier, the price of 10 grams of 24 carat gold was Rs 96,670, which shows that the price of gold has increased by Rs 3,300 per 10 grams in the last 24 hours. The price of 22 carat gold has increased to Rs 97,600 per 10 grams, the price of 20 carat gold has increased to Rs 89,000 per 10 grams and the price of 18 carat gold has increased to Rs 81,000 per 10 grams.
Along with the spot market, gold prices are also rising in the futures market. On the Multi Commodity Exchange (MCX), gold contracts for June 5, 2025 were up 1.76 percent at Rs 98,991 per 10 grams. The reason for the increase in gold prices is the difference of opinion between US President Donald Trump and Federal Chairman Jerome Powell over the Fed rate cut. At the same time, the trade war between the US and China and the weakening of the US dollar are being considered. Gold prices are also rising at the international level. The price of gold remains at $ 3,480 an ounce, which is the highest level of gold so far at the international level.
Colin Shah, MD, Kama Jewellery, said, "The reason for gold prices being at an all-time high is the growing differences between US President Trump and US Fed Chair Jerome Powell over the Fed interest rate cut. Additionally, weakness in the dollar and uncertainties due to the US-China trade war are other important reasons that have pushed the price of gold to a record high. " Shah further said, "The price of gold is moving upwards, the fall in the dollar will make gold cheaper in other currencies, which will maintain the demand-price balance. We estimate that the price of gold will cross $ 3,600 an ounce in the international market during FY 26."
