Gold rate today: Yellow metal reclaims all-time high of ₹89,450/10 gm amid firm global cues, silver nears five-month high

Domestic gold prices on Thursday reclaimed its all-time high of ₹89,450 per 10 gm in the national capital amid positive global trends, a PTI report said citing local jewellers. Gold of 99.9% purity ended at ₹88,850 per 10 gm on Wednesday.

The precious metal of 99.5% purity advanced ₹600 to ₹89,050 per 10 gm after settling at ₹88,450 per 10 gm in the previous session.

The yellow metal hit its all-time high of ₹89,450 per 10 gm (99.9% purity) and ₹89,050 per 10 gm (99.5% purity) on February 20, 2025.

Silver prices also surged by ₹1,100 to hit nearly a five-month high of ₹1,01,200 per kg after finishing at ₹1,00,200 per kg in the previous session.

In the futures trade on the Multi Commodity Exchange (MCX), gold contracts for the April delivery climbed ₹210, or 0.24%, to hit a record high of ₹86,896 per 10 gm in the evening session. Moreover, spot gold surged $11.67, or 0.4%, to $2,946.44 per ounce.

"Gold prices surged to a new record high in the domestic market, while in the international market, spot gold rallied to near-record highs buoyed by safe-haven demand and cooler-than-expected US consumer inflation data, which supported the case for further Federal Reserve monetary easing this year," a PTI report quoted Saumil Gandhi, Senior Analyst of Commodities at HDFC Securities.

Investors are now keeping an eye on US macroeconomic data including weekly jobless claims and PPI/Core PPI (Producer Price Index) to gauge the overall inflation basket, Gandhi added.