Srinagar, April 12 -- Trade tensions between the United States and China sent shockwaves through global markets on Friday, propelling gold to an all-time high of over $3,200 per ounce, while in India, the yellow metal surged to Rs.96,000 per 10 grams, inching closer to the psychologically significant Rs.1 lakh milestone.

The price hike followed a steep drop earlier this week when global and domestic gold rates dipped due to market volatility. On Tuesday, domestic prices had dropped to Rs.88,200 per 10 grams, and international gold fell below the $3,000 level.

The surge was sparked by renewed demand for safe-haven assets after US President Donald Trump intensified the ongoing tariff war, spooking global investors and triggering fears of ...