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* Gold on MCX Rs 1,32,000 Gold$ Spot $4380$

* Central bank gold buying surged to record 900 tonnes, boosting global reserve demand.

* Federal Reserve rate cuts lowered real yields, making gold more attractive than bonds.

* Weakening US dollar enhanced gold’s global purchasing power and demand from foreign investors.

* Persistent global inflation reinforced gold’s role as a reliable hedge against eroding currencies.

* Geopolitical tensions intensified, driving investors toward safe-haven assets amid war and trade conflicts.

* Political instability in major economies — including US and Europe — spurred flight-to-safety investments.

* Rising ETF inflows and institutional accumulation accelerated gold’s upward momentum worldwide.

* Asian retail demand rose sharply, led by India’s festival buying and China’s household investments.

* Equity market volatility and tech-led concentration fears pushed risk-averse investors to gold.

* Global de-dollarization trend encouraged central banks to diversify reserves away from the US currency.

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