Ahmedabad: Gold continued its upward climb on Saturday, reaching a record high of Rs 96,500 per 10 grams in Ahmedabad. Prices surged in tandem with global cues, as the international market peaked at $3,241.75 per troy ounce, according to the World Gold Council.
Analysts attribute the spike to sustained central bank buying, particularly by China, amid ongoing trade tensions and global economic uncertainties. “China’s aggressive gold purchases, coupled with a tightening supply, kept the rally going. The metal continues to shine but is not within everyone’s reach, and festive muhurats will speak of the muted demand due to prices,” said Haresh Acharya, director, India Bullion and Jewellers’ Association (IBJA).