Gold Prices Hit Record High of Rs 1 Lakh/10g: 17x Surge in 21 Years

New Delhi, Apr 22 (PTI) Gold prices on Tuesday hit the jaw-dropping Rs 1,00,000 per 10 grams level in futures trade on MCX, marking its stellar more than 17 times jump since the launch of the contract in November 2003.

Gold futures traded at around Rs 5,858 per 10 grams in November 2003 when the precious metal trading was introduced on MCX.

The precious metal, considered as safe-haven investment in times of crisis and uncertainty, has performed consistently most of the times in the last 21 years. However, the metal gave attractive returns during the times of crisis such as financial meltdown of 2008, the devastating Covid-19 period and the Trump tariff war.

In April 2005, gold prices climbed to Rs 6,267 per 10 grams on the Multi Commodity Exchange (MCX), and the rally picked up pace in the subsequent years.

In the 2008 global financial meltdown, gold prices crossed the Rs 10,000 per 10 grams mark and surged to Rs 11,424 per 10 grams on the MCX, rising more than 22 per cent over April 2007.

The metal rose steadily to reach Rs 17,208 per 10 grams in April 2010.

Gold crossed the crucial Rs 20,000 per 10 grams threshold in 2011.

From 2013 to 2019, gold faced challenges from a stronger dollar and changing central bank policies, with prices fluctuating between Rs 27,000 per 10 grams and Rs 32,000 per 10 grams.


Gold received a major booster in 2020 when the COVID-19 pandemic forced investors to seek refuge in the metal amid economic instability and global uncertainty. Gold prices breached Rs 40,000 per 10 grams ceiling and hit Rs 45,054 per 10 grams in April 2020.

In April 2021, the prices touched Rs 47,051 per 10 grams and continued the upward momentum to reach Rs 51,999 in April 2022 and Rs 60,299 in 2023, driven by continued geopolitical uncertainty, particularly the Russia-Ukraine conflict.

Thereafter, the surge accelerated in April 2024 with gold touching Rs 70,511 per 10 grams, aided by robust retail and institutional demand amid global economic volatility.

In April 2025, the metal hit a all-time high of Rs 1,00,000 per 10 grams for the August month delivery on the MCX, marking a stellar 41 per cent surge in 12 months. The most-traded June contract hit all-time high of Rs 99,358 per 10 grams on April 22.

"Gold prices continues to surge with comex gold futures breached the USD 3,500-mark per ounce as US Dollar tumbles. Its more than 60 per cent gains since March 2024.

"The rally is largely driven by renewed uncertainty surrounding US monetary policy, after President Donald Trump unveiled plans to overhaul the Federal Reserve," NS Ramaswamy, Head of Commodities at Ventura, said.

The criticism of the Federal Reserve by President Donald Trump has shaken the investor confidence pushing the dollar sharply lower and catapulting safe-haven gold to a record high, he said.

Ramaswamy, further said gold prices recent climb is also driven by escalating geopolitical risks, strong central bank demand, and persistent inflation concerns. There are heightened tensions in the Russia-Ukraine front too.

Comex gold futures rose by USD 83.76 or 2.44 per cent to hit a fresh high of USD 3,509.06 per ounce in the international markets.