New Delhi, Oct. 2 -- Gold prices have seen stellar gains this year, driven by a combination of domestic as well as global factors. Domestic gold prices have surged by over 54 per cent year-to-date, largely driven by strong retail demand for the safe-haven asset amid concerns over US tariffs and stock market weakness. Notably, equity benchmark Nifty 50 has risen by just 4.6 per cent this year.

MCX gold and silver for December futures hit their record highs of Rs.1,18,444 per 10 grams and Rs.1,45,715 per kg, respectively, on October 1.

Expectations of US Federal Reserve rate cuts, weakness in the US dollar, sticky inflation in the US, aggressive buying by central banks, and US tariff-led uncertainties are among the major global factors th...