NEW DELHI: Indian bullion markets recorded historic highs driven by a sustained rally in domestic and international precious metal prices. On the Multi Commodity Exchange (MCX), gold futures breached previous records to cross ₹1.49 lakh per 10 grams for the first time. Strong investor demand for safe-haven assets amid global economic uncertainties contributed to active buying in the futures market.
Market analysts attribute the price surge to continuous gold accumulation by central banks worldwide, currency market fluctuations, and broader macroeconomic shifts. Institutional investors have increasingly allocated capital toward gold to hedge against inflation and economic volatility. Domestic demand has similarly reflected a preference for precious metals as a wealth-preservation strategy.
Alongside futures contracts, retail prices for 24-karat gold reached unprecedented levels across major urban centers. Commodity analysts indicate that if prevailing international market conditions persist, precious metal prices may remain elevated. However, record price levels have led to subdued consumer activity in traditional jewelry markets, with transactions primarily driven by investment-oriented buyers.