Breaching a psychological barrier, gold prices in Mumbai touched a new high of a little over ₹40,000 per 10 gm, on Monday, industry players said. According to Mr. Bamalwa, if the current global political crises and the trade wars continue to escalate, then the gold prices may shoot up further, crossing Rs 41,000 per 10 gms in the next few months.

“This is indeed an unprecedented high, but lower by at least 20 percent in US Dollar terms. Presently, it is $1,545 on the Comex, lower than $1,920 in September 2011,” expert and former All Indian Gems & Jewellery Federation Chairman Bachhraj Bamalwa said.

Breaching a psychological barrier, gold prices in Mumbai touched a new high of a little over ₹40,000 per 10 gm, on Monday, industry players said. According to Mr. Bamalwa, if the current global political crises and the trade wars continue to escalate, then the gold prices may shoot up further, crossing Rs 41,000 per 10 gms in the next few months.

“This is indeed an unprecedented high, but lower by at least 20 percent in US Dollar terms. Presently, it is $1,545 on the Comex, lower than $1,920 in September 2011,” expert and former All Indian Gems & Jewellery Federation Chairman Bachhraj Bamalwa said.