Trade tensions between the US and China have pushed gold prices to $3,238.82/ounce (₹2.7 lakh) for the first time on Saturday.

Notably, in the domestic market gold prices had fallen as low as ₹88,200 on Tuesday, while in the international market it was at $3,000 (₹2.5 lakh).

By Saturday, a sudden surge was witnessed with gold at an all-time high at ₹96,000 in the domestic market and $3,262 (₹2.8 lakh)  in the international market on Friday.

On Friday, the price of 22-carat gold in Ahmedabad was ₹85,660, and it was ₹93,440 per 10 gm.

What pushed the safe-haven metal to record highs was the economic uncertainty triggered by US President Donald Trump’s trade policies, according to a report.

Experts have signalled a further spike in gold prices, forecasting it to hit $3,500/oz (₹3 lakh) this year.