After a brief decline yesterday, gold prices have surged sharply once again, rising by ₹1,680 per sovereign (8 grams) today. The price of one sovereign now stands at ₹93,720, inching close to the ₹94,000 mark, with gold gaining ₹210 per gram to reach ₹11,715.
At the beginning of this month, the price of gold was around ₹90,200 per sovereign, which later dipped to ₹89,080 on November 5. Since then, gold prices have been fluctuating between ₹89,000 and ₹90,000.
The current surge comes after days of market uncertainty and is largely attributed to global economic factors, including the end of the U.S. government shutdown, which has influenced international gold rates.
The all-time record price of gold remains at ₹97,360 per sovereign, set on October 17. Following that peak, prices had dropped by nearly ₹9,000, before regaining momentum in recent days.
Experts say the recent upward trend reflects renewed investor confidence in gold as a safe-haven asset amid ongoing global financial shifts and market volatility.
