Global war escalations and severe economic uncertainty are forcing a massive investor flight toward safe-haven assets today. This panic is directly impacting the Indian metal markets. The Indian Rupee continues to show weakness against global currencies. Domestic gold rates are surging rapidly as a result.
Prices for 24-carat gold in Delhi reached ₹1,49,240 per 10 grams on Sunday afternoon. Buyers looking for 22-carat gold are facing rates of ₹1,36,803 per 10 grams, according to a detailed report published today. Silver is also showing signs of a slight recovery across the country. The white metal took a massive ₹10,901 collapse just two days ago on Friday.
This sudden domestic spike mirrors broader business trends seen across international commodity exchanges.
How Falling US Treasury Yields Are Pumping Gold to $4,800
An ICICI Commodity report tracks international gold gaining for the fourth consecutive day. The asset is currently nearing the $4,800 per ounce mark globally. This momentum shares a direct inverse correlation with the weakening US Dollar. US Treasury yields are actively falling. Investors are pulling cash from traditional government bonds and parking it in physical metals.
Despite the aggressive weekend surge, local buyers are not seeing the absolute market ceiling. Gold in the Indian domestic market is still trading approximately 17% cheaper than its historical all-time high of ₹1,80,779.