Gold price today in Delhi retail bullion market has crossed the historic Rs 50,000 mark to hit Rs 50,405 per 10 gm level. Several factors could have attributed to this major hike in gold prices, some which may include: uncertainty in the global economy, weak US economic outlook and the US dollar. Also, a second wave of Coronavirus is expected to sweep the US and other countries and this is adding to the surge in prices.

The result is that investors are rushing towards safe haven investments and that is what gold is all about - the yellow metal provides safety as it retains its value better than all other asset classes. This has helped it to remain an investors' dream investment. And yes, prices are expected to surge further - expert says it may hit Rs 51,000 in Delhi!

A premium of around Rs 1800 to Rs 1900 is being applied in the Delhi retail gold market if compared with its price at the Multi Commodity Exchange (MCX). In international markets, gold price has sustained above $1,750 per ounce levels, which means it has broken its previous range of $1,690 per ounce to $1,750 per ounce mark. 

Spot gold is trading in the range of $1,750 per ounce to $1,815 per ounce levels.

Owing to all these factors, gold prices have surged and reached a new high amidst the uncertain market conditions, which are primarily driven because of the global lockdown.