Gold, Silver Hit Record Highs as Global Uncertainty Rises
Gold and silver prices surged to record highs amid global uncertainty, driven by a weak US dollar, geopolitical tensions, and strong industrial demand.
Ellofacts
Mumbai: Gold and silver prices continued their strong upward trend on Wednesday, breaking all previous records in the domestic market. Gold was trading close to ₹1.7 lakh per 10 grams, while silver prices hovered around ₹3.7 lakh per kg in the bullion market.
On the MCX, gold futures for February delivery touched a fresh all-time high of ₹1.65 lakh, while silver futures for March delivery surged to a new lifetime high of ₹3.87 lakh.
The rally was driven by rising global prices, supported by a weaker US dollar in early trading. Prices gained further strength later in the day after US President Donald Trump posted on social media about a large US Navy fleet heading toward West Asia, increasing geopolitical tensions and boosting demand for safe-haven assets.
Internationally, gold crossed the $5,300 per ounce mark, while silver was trading near $113 per ounce, both staying just below their record highs.
Market experts said ongoing geopolitical uncertainty and a weak dollar are pushing investors toward precious metals. In addition, strong demand for silver from fast-growing sectors such as electric vehicles (EVs), semiconductors, solar energy, and smart grids is adding to the price surge.
