Gold’s unending shine: Gold rates touch another lifetime high, climb to ₹1,13,100 in Delhi

Gold prices (24K, 99.9% purity) climbed ₹100 to hit a fresh peak of ₹1,13,100 per 10 gram in Delhi on Thursday, September 11 on the back of consistent buying by investors, according to the All India Sarafa Association. In just 2025, gold prices have skyrocketed by ₹34,150, or 43.25%, from ₹78,950 per 10 gram on December 31, 2024. 

Gold of 99.5% purity advanced to a fresh record peak of ₹1,12,600 per 10 gram. 

"Gold prices have reached all-time highs as market risks have escalated, such as inflationary worries, mounting public debt, and weakening US growth. Exchange-traded fund flows, especially in Asia, have been a swing factor for gold prices," a PTI report quoted Renisha Chainani, Head of Research at Augmont, as saying. 

In the overseas markets, however, gold prices decreased to trade 0.52% lower at $3,621.91 per ounce. Spot silver fell 0.35% to $41.01 per ounce.

"Investors are awaiting the latest US consumer inflation report, which is scheduled to be released later in the day. The report is expected to provide further clarity on inflation, potentially influencing the magnitude of the Federal Reserve's anticipated interest rate cut next week," the PTI quoted Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, as saying. 

Gold futures

Gold futures for the October delivery touched their lifetime high of ₹1,09,840 per 10 gram on the Multi Commodity Exchange (MCX) on Tuesday, September 9. On Thursday, at around 7:20 pm, the October delivery futures were trading at ₹1,09,186 per 10 gram on the MCX. 

The December contracts also touched a record high of ₹1,10,849 per 10 gram on the MCX on September 9. At 7:20 pm on Thursday, Gold December contracts were trading at ₹1,10,292 per 10 gram on the MCX. 

Gold’s bull run is driven by rising geopolitical tensions, market fluctuations, central bank buying and a weak rupee, as the yellow metal is a safe haven asset. 

Gold ETFs rose remarkably in August to see a net inflow of ₹2,189.51 crore, up 74.3% as compared to the inflows of ₹1,256.09 crore recorded in July. This is at a time when net inflows into equity mutual funds (MFs) fell by 21.7% to ₹33,430.37 crore in August from ₹42,702.35 crore in July.