Gold prices breach key Rs 1 lakh level to hit record high amid Middle East tensions

Gold prices have surged to unprecedented levels, with August contracts reaching a lifetime high of Rs 1,00,403 per 10 grams. This milestone reflects escalating tensions in the Middle East, which have historically driven investors toward gold as a safe-haven asset. The geopolitical unrest in the region has heightened market uncertainties, prompting a rush to secure assets perceived as stable. The October expiry contracts have also witnessed significant gains, indicating that the upward trend may persist if the situation remains volatile. Analysts suggest that the combination of geopolitical risks and fluctuating currencies is fueling this surge, as investors seek to hedge against potential economic disruptions. The sustained demand for gold underscores its enduring appeal amid global instability. Market experts are closely monitoring the situation, with some predicting further increases if the tensions escalate. However, others warn of potential corrections if diplomatic resolutions are reached. For now, gold continues to shine brightly, offering a beacon of security in a landscape fraught with uncertainty. As the scenario unfolds, investors remain alert to the shifting dynamics that could influence future price movements.

— Authored by Next24 Live