Gold surged to a record high above USD 5,000 per ounce on Monday, extending a historic rally as investors moved into the safe-haven asset amid rising geopolitical uncertainties. Mirroring the global trend, gold prices in India crossed Rs 1.6 lakh per 10 grams for the first time.

In Mumbai, 24-carat gold rose to an all-time high of Rs 1,60,250 per 10 grams, while 22-carat gold was priced at Rs 1,46,890 per 10 grams. These rates are exclusive of GST and making charges. Silver also touched a fresh lifetime high in the spot market, climbing to Rs 3,35,000 per kg.