Gold Set to Cross ₹1L Mark on Weak Dollar

Surge in yellow metal is on the back of weakening dollar and global uncertainties over Trump's imposition of tariffs

- BENN KOCHUVEEDAN @ Mumbai

WITH the international gold prices crossing $3,400/ounce-mark on Monday, the domestic prices are likely to cross the psychological mark of ₹1,00,000/10 grams on Tuesday as dollar continued to face headwinds.

The greenback was at a three-year low on Monday against the key other currencies amid escalation in tariff war. In Delhi, the yellow metal rose to ₹99,800 (24 carat) on Monday.

At 4:15 pm, Monday, the safe haven metal was trading at $3,415/ounce (an ounce is 28.35 grams) on the Chicago Mercantile Exchange, which is 2.7% higher than the previous close. This means that the metal will open for trade on Tuesday well-above the psychological mark of ₹1,00,000/10 grams or to be precise at ₹1,03,293.