Hyderabad, Sept. 1 -- Gold rates in Hyderabad on Monday surged to levels never seen before as investors turned to safe-haven assets due to global factors.

The price of 10 grams of 24-carat gold reached Rs 1,05,880 on Monday.

Reason for surge

Bullion traders said that the pick-up in demand by investors helped the rally in the precious metal.

Investors are shifting to gold due to trade tensions following the announcement by the US administration to impose an additional 25 per cent tariff on Indian imports, expectation of a US Federal Reserve rate cut, and geopolitical tensions including the Russia-Ukraine and Israel-Gaza conflicts.

Moreover, a weaker rupee which has hit a record low against the US dollar is further resulting in the sur...