Gold and silver prices soared to new record levels on Monday. Investors rushed to buy these precious metals as global tensions rose and trade uncertainties lingered. The demand for safe-haven assets remained strong throughout the day.
International Markets Show Strong Gains
In international markets, spot gold climbed by 1.7 percent. It reached a fresh high of $4,673 per ounce. Silver performed even better, rising about 3 percent to around $94 per troy ounce. Overseas silver futures surged more than 6 percent, hitting a record $94.35 per ounce.
MCX Futures Jump Sharply
On the Multi Commodity Exchange (MCX), gold February futures jumped nearly Rs 3,000. This represented an increase of over 2 percent. The futures hit a fresh all-time high of Rs 1,45,500 per 10 grams. Silver futures also rose sharply, reaching record levels on the exchange.
Key Factors Driving the Rally
Several factors contributed to the price surge. Escalating geopolitical risks played a major role. Renewed unrest in Iran added to the uncertainty. Fresh US tariff threats against several European countries over Greenland also fueled concerns. Broader global economic worries supported buying in precious metals. Shifting expectations about US monetary policy further boosted demand for gold and silver.
Gold Prices Across Major Indian Cities
Gold prices moved higher in all major Indian cities on Monday. Here is a detailed look at the rates for different carats.
Delhi
In Delhi, 24-carat gold stood at Rs 14,584 per gram, up by Rs 191. The rate for 22-carat gold was Rs 13,370 per gram, higher by Rs 175. 18-carat gold was priced at Rs 10,942 per gram, up by Rs 143.
Mumbai
Mumbai saw 24-carat gold priced at Rs 14,569 per gram, up by Rs 191. The price of 22-carat gold stood at Rs 13,355 per gram, up by Rs 175. 18-carat gold traded at Rs 10,927 per gram, up by Rs 143.
Chennai
In Chennai, 24-carat gold was Rs 14,673 per gram, up by Rs 186. The rate for 22-carat gold stood at Rs 13,450 per gram, up by Rs 170. 18-carat gold was priced at Rs 11,230 per gram, up by Rs 140.
Ahmedabad
Ahmedabad reported 24-carat gold trading at Rs 14,574 per gram, up by Rs 191. The price of 22-carat gold rose to Rs 13,360 per gram, up by Rs 175. 18-carat gold was priced at Rs 10,932 per gram, up by Rs 143.
Other Cities
Prices also increased in several other cities:
- Bhubaneswar: 24-carat gold at Rs 14,569 per gram, up by Rs 191; 22-carat gold at Rs 13,355 per gram, up by Rs 175; 18-carat gold at Rs 10,927 per gram, up by Rs 143.
- Hyderabad: 24-carat gold at Rs 14,569 per gram, up by Rs 191; 22-carat gold at Rs 13,355 per gram, up by Rs 175; 18-carat gold at Rs 10,927 per gram, up by Rs 143.
- Kolkata: 24-carat gold at Rs 14,569 per gram, up by Rs 191; 22-carat gold at Rs 13,355 per gram, up by Rs 175; 18-carat gold at Rs 10,927 per gram, up by Rs 143.
- Jaipur: 24-carat gold at Rs 14,584 per gram, up by Rs 191; 22-carat gold at Rs 13,370 per gram, up by Rs 175; 18-carat gold at Rs 10,942 per gram, up by Rs 143.
- Lucknow: 24-carat gold at Rs 14,584 per gram, up by Rs 191; 22-carat gold at Rs 13,370 per gram, up by Rs 175; 18-carat gold at Rs 10,942 per gram, up by Rs 143.
- Bengaluru: 24-carat gold at Rs 14,569 per gram, up by Rs 191; 22-carat gold at Rs 13,355 per gram, up by Rs 175; 18-carat gold at Rs 10,927 per gram, up by Rs 143.
- Patna: 24-carat gold at Rs 14,574 per gram, up by Rs 191; 22-carat gold at Rs 13,360 per gram, up by Rs 175; 18-carat gold at Rs 10,932 per gram, up by Rs 143.
The overall trend shows a clear upward movement in gold and silver prices across both domestic and international markets. Investors continue to view these metals as reliable safe-haven assets during times of uncertainty.
