Gold Prices Surge for Second Day, Reaching New Record of ₹95,935 per 10 Grams

Gold prices continued their upward trend for the second consecutive session, reaching a new all-time high of ₹95,935 per 10 grams on April 17, 2025. The surge was driven by strong spot demand and global economic uncertainty, reinforcing gold’s status as a safe-haven asset.

On the Multi Commodity Exchange (MCX), gold futures for June delivery hit a record high of ₹95,935 per 10 grams in morning trade before slightly retreating to ₹95,750 per 10 grams. This follows Wednesday’s peak of ₹94,781 per 10 grams, marking a significant rally in the precious metal.

Analysts attribute the price surge to geopolitical tensions between the United States and China, as well as waning demand for the US dollar and Treasury securities. The weakening dollar, which is near a three-year low, has made gold more attractive to foreign investors.

On the global front, gold futures in New York touched a fresh peak of $3,371.89 per ounce before pulling back to $3,340.61 per ounce. Investment firm Goldman Sachs has raised its year-end gold forecast to $3,700 per ounce, with projections of $4,000 per ounce by mid-2026.

Experts suggest that gold’s strong performance makes it a resilient investment option, particularly during periods of economic uncertainty. Some analysts advise investors to hold onto existing gold assets, while others see the current price surge as an opportunity for diversification.