In New Delhi, on December 22 (NationPress), gold prices skyrocketed to a remarkable all-time high in the capital city on Monday, influenced by a significant upswing in global markets and robust safe-haven demand from investors.

The All India Sarafa Association reported that gold increased by Rs 1,685, reaching an unprecedented Rs 1,38,200 per 10 grams in Delhi.

Silver also experienced a notable surge, climbing to a record Rs 2,14,500 per kilogram, taxes included.

The white metal surged by Rs 10,400 per kg, highlighting strong purchasing interest and momentum in global prices.

Market analysts indicated that the bullish sentiment in the bullion market remained robust. They noted that both gold and silver continued their upward trajectory, achieving new record highs amid escalating uncertainty in the US economy.

On the international stage, spot gold jumped by $80.85, or nearly 1.9 percent, reaching a record price of $4,420.35 per ounce.

Experts pointed out that interest in precious metals has surged as expectations for interest rate reductions in the US rise, coupled with increasing fiscal concerns.

Lower interest rates typically diminish the opportunity cost of holding gold, rendering it more appealing to investors.

Earlier in the day, spot gold had already escalated to $4,383.73 per ounce, following reports that the US Federal Reserve might further cut interest rates in 2026, alongside strong demand for safe-haven assets.

This year, gold has experienced a remarkable increase, gaining approximately 67 percent amid geopolitical tensions, trade tariffs, and global economic uncertainty.

According to analysts, both gold and silver prices had advanced the previous week, carrying that momentum into the new week by reaching fresh all-time highs in both domestic and international markets.

This surge followed the US Federal Reserve's third interest rate cut of 25 basis points this year.