National News
Gold price surges past Rs 1 Lakh/ 10 gm
In a landmark moment for the Indian bullion market, gold prices have surged past the Rs 1 lakh mark per 10 grams, reinforcing the precious metal’s status as a safe-haven investment during times of economic uncertainty. On Friday, Mumbai’s renowned Zaveri Bazaar witnessed an unprecedented rise in the price of 24-carat gold, which now stands at Rs 1,01,000 per 10 grams—marking the highest ever recorded in India’s history.
This significant increase is largely attributed to a confluence of international and domestic factors. Market experts suggest that rising global gold prices, coupled with expectations of potential interest rate cuts in the United States and Europe, have played a pivotal role in boosting demand. Additionally, a weakening US dollar and ongoing geopolitical tensions, particularly in the Middle East, have further cemented gold’s appeal among investors seeking stability in volatile times.
While this surge may be welcomed by investors, it poses a financial challenge for everyday consumers, especially during the current wedding season. As gold becomes increasingly expensive, middle-class buyers may find it harder to afford new jewellery. In fact, several gold traders have reported a noticeable dip in demand for newly crafted ornaments, with many customers choosing instead to liquidate existing gold assets to take advantage of the high prices.
Looking ahead, the trajectory of gold prices remains uncertain. If global instability continues and investor demand holds strong, experts believe that prices could climb even higher. On the other hand, some analysts foresee a potential cooling-off period, citing the likelihood of profit booking by investors who may now choose to capitalize on the recent surge.
In conclusion, the current rally in gold prices underscores the metal’s enduring significance in global and domestic markets. Whether this trend will persist or see a temporary pullback remains to be seen, but for now, gold continues to shine brightly as both an investment and a symbol of security.
National News
Gold Loans Continued To Expand In The 12 Months Up To May 2026, Up By 105 Percent
The Remarkable Momentum In Gold Lending Stands In Contrast To The Moderation Witnessed Across Several Major Retail Credit Categories.
Gold-backed lending has emerged as one of the fastest-growing segments within the banking system, sustaining triple-digit growth through May 2026 and reshaping the composition of retail credit. According to the latest sectoral data released by the Reserve Bank of India (RBI), loans against gold jewellery expanded by 105.5% year-on-year to approximately Rs 5.1 lakh crore, significantly outperforming the broader personal loan portfolio, which grew 15.4% to ₹70.2 lakh crore.
The remarkable momentum in gold lending stands in contrast to the moderation witnessed across several major retail credit categories. Housing loans, which continue to constitute the largest share of personal lending, recorded growth of 10.9%, while credit card outstanding increased by a modest 1.3%. Consumer durable financing contracted by 2.6%, highlighting a broader cooling in discretionary borrowing.
As a result, gold loans have assumed a larger role within the personal credit ecosystem. Their share in total personal loans rose to 7.3% in May 2026, compared with 4.1% a year earlier and just 1.97% in May 2024. Over the past two years, this represents an increase of 5.4 percentage points. Notably, gold-backed lending contributed nearly 28% of the incremental expansion in personal loans between May 2025 and May 2026, despite accounting for a relatively modest proportion of the overall portfolio.
The moderation in traditional retail segments also weighed on the overall share of personal loans within total bank credit, which declined to 32.6% from 33.3% a year earlier. Other personal loan categories grew by 12.5%, remaining below the banking system’s aggregate credit growth of 17.7%.
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