Gold prices hit record high of Rs 96,805, may touch Rs 1 lakh mark soon

Gold prices in India touched a new record high of Rs 96,805 per 10 grams on Monday on the Multi Commodity Exchange (MCX) as rising fears over a global trade war and weakness in the US dollar pushed investors towards the yellow metal.

Around 1:30 pm, the ‘MCX Gold June



5’ contract was trading 1.65 per cent higher at Rs 96,830 per 10 grams.

Spot gold prices in India also surged. According to the India Bullion and Jewellers Association (IBJA), the fine gold (999 purity) was priced at Rs 9,659 per gram, while 22-carat gold stood at Rs 9,427.