Gold prices in major Indian cities have surpassed Rs 80,000 per 10 grams due to factors such as Donald Trump's anticipated high tariff trade policy and a strong US dollar.
The ongoing Russia-Ukraine conflict has also contributed to the rise in gold prices.
On COMEX, gold prices increased by $38 to close at $2,707 per ounce, while on MCX, prices rose by Rs 900 to reach Rs 77,600.
The uncertainty surrounding the US economy and volatile stock markets have led to increased demand for gold as a safe-haven asset.
However, the US Federal Reserve's cautious stance on interest rates and the strength of the dollar pose challenges for bullion prices.
After Trump's election victory, gold prices initially dropped by Rs 6,775, or 8.5%, reaching Rs 73,000 per 10 grams, as expectations grew for a more restrictive US trade policy.