Business News

As gold prices soared to historic highs on Tuesday, breaching the Rs 1 lakh mark per 10 grams for the first time on the Multi Commodity Exchange (MCX), a decades-old Bollywood film clip featuring actor Shakti Kapoor resurfaced online—amusing social media with his uncanny “prediction” of gold’s meteoric rise. Investors and meme-makers alike hailed him as an unlikely financial oracle.On the MCX, the October contract crossed the psychologically significant Rs 1 lakh level, touching Rs 1,00,484 per 10 grams—its highest ever. The June and August contracts also hit record highs of Rs 99,178 and Rs 99,800, respectively. Global prices were equally buoyant, with spot gold reaching an all-time high of $3,500.05 per ounce before settling slightly lower.The price surge has intensified debate over the metal’s future trajectory. But it also triggered a wave of nostalgic humor online, as a scene from the 1989 film Guru—where Kapoor plays a villain—went viral. In the clip, his character delivers a dramatic monologue forecasting gold prices touching Rs 5,000, Rs 10,000, Rs 60,000, and ultimately Rs 1 lakh per tola (11.66 grams).— Atulsingh_asan (@Atulsingh_asan) Though not technically accurate in units, the clip struck a chord with viewers amid today’s price milestones. One X (formerly Twitter) user shared the meme, dubbing Kapoor “India’s first economist” for having “predicted” gold’s future long before analysts did.The viral video coincides with intense activity in both domestic and global bullion markets. In India, gold prices rose by Rs 1,899, or nearly 2%, on Tuesday to Rs 99,178 per 10 grams on MCX. In Delhi’s bullion market, 24-carat gold hit Rs 73,350 per 10 grams last Friday, posting a sharp intraday gain of Rs 1,050.Analysts attribute the rally to heightened geopolitical tensions, particularly in West Asia, and a flight to safe-haven assets following U.S. President Donald Trump’s criticism of Federal Reserve Chair Jerome Powell.Meanwhile, social media continues to revel in Kapoor’s inadvertent financial fame.“If only Shakti’s prophecy turns true, and gold really hits Rs 1 lakh per tola,” joked one user, summing up the online mood.While economists debate the rally's sustainability, Shakti Kapoor’s cinematic quip from the late 1980s has delivered a rare moment of levity amid the current market frenzy.Also read | Last safe haven standing: Why is gold trading like the world is in a depression?(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)