As Missiles Fly, Gold Climbs—What Kolkata’s Price Spike Really Means

Gold prices in Kolkata surged to an alltime high of ₹1,03,000 per 10 grams on Monday, driven by escalating geopolitical tensions in the Middle East and a spike in safehaven demand. The rally follows Israel’s reported strikes on Iranian nuclear sites, which triggered fears of broader conflict and sent global investors scrambling for stability.

 

Key Highlights:

Industry experts say the surge mirrors past spikes during the UkraineRussia war and reflects gold’s enduring role as a hedge against uncertainty. However, analysts caution that prices could retreat if diplomatic efforts ease tensions.

 

For now, jewellers are bracing for continued volatility, with many expecting phased buying and a shift toward smallerticket purchases.

 

Source: Times of India, Economic Times, Greater Kashmir