Gold soars ₹2,700 to storm past ₹1.23 lakh

Gold prices skyrocketed by ₹2,700 to scale a fresh peak of ₹1,23,300 per 10 grams in the national capital on Monday, lifted by safe-haven buying in the overseas markets.

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According to the All India Sarafa Association, the yellow metal of 99.9% purity had closed at ₹1,20,600 per 10 grams on Friday.

In the local bullion market, gold of 99.5% purity jumped by ₹2,700 to hit a record high of ₹1,22,700 per 10 grams (inclusive of all taxes) on Monday. It had settled at ₹1,20,000 per 10 grams in the previous market session.