Gold hits record high of Rs 1.02 lakh (AP Photo/Mike Groll, File)
Gold prices reached a record high of Rs 1.02 lakh per 10 grams on August 8, 2025, driven by global trade tensions and a weakening US dollar. The surge in prices prompted many investors to consider the implications of this increase on their investment strategies.
On the Multi Commodity Exchange (MCX), gold contracts for October 3 traded at an all-time high of Rs 1,02,191. At approximately 1:15 AM IST, gold was up 0.68 per cent at Rs 1,02,159, while silver prices also rose, with September 5 contracts priced at Rs 1,14,904 per kilogram.
The escalation in gold prices coincides with new tariffs imposed by US President Donald Trump on Indian imports, which may potentially slow India’s GDP growth by between 0.3 and 0.6 per cent. Reports indicate that the US has also introduced tariffs on one-kilogram gold bars, affecting nations like Switzerland, the leading gold refining hub.
Factors Influencing Gold Prices
The combination of trade tensions and a decline in the US dollar has increased gold’s appeal to investors using alternative currencies. The dollar index fell by nearly half a percent to 97.96 during the trading session.
As global uncertainty continues to rise, investors are likely to keep a close watch on movements in gold and silver prices in the coming days. The question remains whether this is the right time to buy gold amid these fluctuations.
Looking Ahead
With the market reacting to ongoing economic developments, potential investors should consider consulting financial experts before making any decisions. The current landscape suggests that while gold prices are at a record high, the dynamics of global trade and currency values will continue to influence future movements.