PTI New Delhi

Gold prices soared by Rs 1,650 to hit an all-time high of Rs 98,100 per 10 grams in the national capital on Wednesday amid a global rush for the safe-haven asset triggered by an escalated trade war between the US and China.

According to the All India Sarafa Association, the precious metal of 99.9 per cent purity had finished at Rs 96,450 per 10 grams on Tuesday. Gold prices logged the highest single-day gain since April 11 when the spot rates skyrocketed by Rs 6,250 per 10 grams -- the record steepest single day rise so far -- in the local markets. So far this year, the yellow metal prices have risen by Rs 18,710 or 23.56%.

Gold of 99.5% purity also appreciated by Rs 1,650 to hit a fresh peak of Rs 97,650 per 10 grams against the previous close of Rs 96,000 per 10 grams. On the MCX, gold futures for June delivery surged by Rs 1,984 or 2.12% to touch a record high of Rs 95,435 per 10 grams.