Gold Surges to Record ₹1.17 Lakh/10g on Safe-Haven Demand Amid US Shutdown Fears
Gold prices in India touched an all-time high of ₹1.17 lakh per 10 grams as investors rushed to secure their wealth. Global uncertainty, particularly concerns over a possible US government shutdown, has reignited the precious metal’s safe-haven appeal.
A New Peak for the Yellow Metal
In a dramatic turn, gold prices soared to an unprecedented ₹1.17 lakh per 10 grams, marking yet another milestone for the precious metal in India. The sudden surge reflects both global and domestic sentiment, where investors are increasingly shifting from riskier assets to traditional safe havens. For Indian households, where gold carries not only financial but also cultural weight, this rise is both a matter of pride and concern.
US Shutdown Jitters Spark Demand
The rally comes amid looming fears of a potential US government shutdown. With policymakers in Washington locked in budget disputes, markets are rattled by the uncertainty such an event could trigger. Historically, gold thrives in times of political or economic instability, and this time is no different. Investors, wary of stock market volatility and a weakening dollar, are flocking to gold as a safer hedge.
Impact on Indian Markets and Consumers
In India, the world’s second-largest gold consumer, the surge has a direct impact. While jewellers see brisk demand from long-term investors, retail buyers planning weddings or festive purchases may feel the pinch. With the festive season around the corner, many families are now caught between tradition and soaring costs. Some jewellers report that buyers are shifting towards lighter ornaments or coins, rather than heavy sets, to balance sentiment with affordability.
Broader Economic Signals
This price rally is not just about jewellery. It reflects larger economic signals—waning confidence in equities, geopolitical uncertainties, and expectations that central banks may keep interest rates lower in the near future. Even central banks themselves have been expanding their gold reserves, further strengthening the trend.
The Road Ahead
While no one can predict how long this surge will last, experts suggest that as long as uncertainty persists in the global economy, gold will remain glittering in the spotlight. For Indian buyers, the message is clear: gold is no longer just a luxury but also a shield in uncertain times.
In essence, gold’s record run is less about glamour and more about global anxieties—a shining reminder that in times of turmoil, trust often turns to the timeless yellow metal.
