Hyderabad, Sept. 12 -- Gold rates in Hyderabad soared to levels never seen before on Friday as investors turned to safe-haven assets due to global factors.

The price of 10 grams of 24-carat gold reached Rs 1,08,490 on Saturday.

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 amid geopolitical concerns, including US President Donald Trump's tariff threats to many countries, including India, Brazil, Russia, and others, and the ongoing conflicts in Ukraine and the Gaza Strip.

Moreover, a weaker rupee, which has hit a record low against the US dollar, is further contributing to the surge in gold rates.

Gold and silv...