Gold prices have hit record highs globally and in India, reaching ₹71,000 per 10 grams. Factors like a weakening dollar, speculative buying, and Middle East tensions have contributed to the surge. Analysts predict further increases due to geopolitical uncertainties and expectations of rate cuts. Investors are advised to consider economic factors like inflation and interest rates before deciding on gold investments, as waiting for prices to drop may not be wise. Allocating a portion of the portfolio to gold can provide protection against inflation and enhance diversification.