The ripple effects of global warfare and geopolitical instability have hit the gold market hard on the final day of the week. With rising tensions surrounding the Strait of Hormuz causing fears over fuel and trade disruptions, the bullion market is witnessing unprecedented volatility. Investors, sensing risk, are flocking to gold as a safe haven, driving prices to historic highs.

In Kolkata, the price of 24-carat gold reached a staggering ₹1,53,000 per 10 grams on Friday, April 10. Simultaneously, 22-carat gold used for jewelry stands at ₹1,40,250. This sudden jump of several thousand rupees in a single day has left middle-class buyers in a state of shock, especially with major festivals like Poila Baisakh just around the corner.

The situation is mirrored across other major Indian cities as well. In Delhi, 24-carat gold is trading at ₹1,53,150, while Mumbai’s rates align closely with Kolkata’s. Market analysts suggest that as long as the international climate remains unstable, gold prices are likely to remain on an upward trajectory, leaving consumers with no choice but to wait for a potential correction.