Gold Soars to New Heights as Diamond Industry Faces Setbacks

Gold prices have skyrocketed to unprecedented levels, reaching $2,942.70 per ounce in the Asian trading session today. This marks the eighth record high for gold in 2025 alone, representing a staggering 63% increase since October 2023. The surge is attributed to global economic uncertainties, including recent U.S. tariff announcements and inflation fears. In India, 24K gold touched ₹87,417 per 10 grams, showcasing a remarkable 330% return over the past decade. Meanwhile, the diamond industry faces challenges as NEP Holdings, a water filtration system maker known for its "Diamond" brand, has been placed under liquidation following a court decision.
Source: Reuters, Business Standard, IndMoney