Gold price today, April 22 -- Precious metal soared to hit the significant psychological level of Rs.1 lakh per 10 grams in the retail market on Monday, ahead of Akshaya Tritiya, which is the auspicious day for purchasing gold in India.

On the Multi Commodity Exchange (MCX), the August delivery contract for gold surged by Rs.2,048 or 2.1 per cent, reaching a new all-time high of Rs.1,00,000 per 10 grams during mid-session trading.

According to Manav Modi, Senior Analyst, Commodity Research at Motilal Oswal Financial Services Ltd., Gold posted gains of over 20% marking an all-time high on both MCX and COMEX. Gold has surprised market as its pace and volatility this year has been sharper than most asset classes.

"We could continue to see...