Gold surges Rs 1,000 to breach Rs 82k-mark as Diwali sparkles demand

At Rs 82,400 per 10 gram, gold price has recorded a 35% surge since October 29 last year when it was at Rs 61,200

Gold prices saw a steep surge of Rs 1,000 and breached the psychological Rs 82,000 per 10 grams-mark for the first time in the national capital on Wednesday, amid robust buying by jewellers ahead of Diwali.

According to the All India Sarafa Association, the yellow metal of 99.9 per cent purity soared by Rs 1,000 to hit a fresh peak of Rs 82,400 per 10 grams in Delhi.

The precious metal of 99.5 per cent purity also climbed Rs 1,000 to hit an all-time high of Rs 82,000 per 10 grams in the local markets.

In the previous session, gold of 99.9 per cent and 99.5 per cent purity had closed at Rs 81,400 and Rs 81,000 per 10 grams, respectively.

Traders attributed the sharp jump in gold prices to massive buying by local jewellers in order to meet the rising demand during Diwali as well as firm global trend due to uncertain geopolitical situation ahead of the US presidential elections.

At Rs 82,400 per 10 gram, gold price has recorded a 35 per cent surge since October 29 last year when it was at Rs 61,200 per 10 grams.