In the international markets, gold futures jumped by $83.76 per ounce or 2.44% to establish a record high of $3,509.06 per ounce.
| Photo Credit: Reuters

Gold future prices sustained upward trend for the fourth straight session by surging ₹2,048 to hit a fresh record high of ₹1,00,000 per 10 grams as investors rushed to safe havens after U.S. President Donald Trump indicated plans to overhaul Federal Reserve amid continuing global trade war jitters.

On the Multi Commodity Exchange (MCX), the August delivery contract of the yellow metal bounced by ₹2,048 or 2.1% to hit a fresh peak of ₹1,00,000 per 10 grams in the mid-session trade.

Later, the precious metal trade at ₹99,790 per 10 grams, up by ₹1,838 or 1.88%, with an open interest of 2,492 lots.

Additionally, the October contract bounced by ₹2,016 or 2.04% to hit a record high of ₹1,00,500 per 10 grams on the MCX.

Meanwhile, the most-traded June contract climbed by ₹2,079 or 2.14% to touch a record high of ₹99,358 per 10 grams.

Analysts said the surge in the precious metal was sparked by concerns surrounding U.S. monetary policy, after President Trump unveiled plans to overhaul the U.S. Federal Reserve.

In the international markets, gold futures jumped by $83.76 per ounce or 2.44% to establish a record high of $3,509.06 per ounce. Later, it pulled back from the record level to trade at $3,491.25 per ounce, up by $65.95 or 1.93%.

Gold breaches ₹1 lakh-mark per 10 gram in Delhi

Gold prices surged by ₹1,800 to zoom past the crucial ₹1 lakh-mark for 10 grams in the national capital on Tuesday amid buying rush by local jewellers and stockists in anticipation of increased demand during Akshaya Tritiya and wedding season even as global macroeconomic uncertainties continued to fuel safe-haven chase.

According to the All India Sarafa Association, the precious metal of 99.9 per cent purity climbed ₹1,800 to hit the lifetime peak of ₹1,01,600 per 10 grams from Monday’s closing level of ₹99,800 per 10 grams.

Gold of 99.5 per cent purity also jumped by ₹2,800 to hit a record high of ₹1,02,100 per 10 grams in the local markets on Tuesday. It had settled at ₹99,300 per 10 grams in the preceding session.

The yellow metal has spurted by ₹22,650 per 10 grams, or nearly 29%, since December 2024.

Meanwhile, silver prices remained flat at ₹98,500 per kg on Tuesday.