Gold touched a record high of ₹1,41,250 per 10 grams in today’s trading session, the highest level ever. Silver also hit a record high of ₹2,63,996 per kilogram, its highest level to date.
महंगा हुआ सोने और चांदी, छुए नए रिकॉर्ड, सिल्वर में 5 प्रतिशत से ज्यादा की उछाल
On Monday, the first trading day of the week, gold and silver prices reached all-time highs. This was driven by rising political tensions in the US and escalating protests in Iran, which fueled concerns in global markets.
As of the time of writing, gold for February delivery on the Multi Commodity Exchange (MCX) rose by ₹2,333, or 1.68 percent, to ₹1,41,152 per 10 grams. Silver for March delivery climbed by ₹10,598, or 4.19 percent, to ₹2,63,323 per kilogram.
Gold touched a record high of ₹1,41,250 per 10 grams in today’s trading session, its highest level ever. Silver also hit a record high of ₹2,63,996 per kilogram, its highest level to date.
Furthermore, in the international market, gold prices rose by 1.45 percent to $4,575.82 per ounce, also touching a new record high of $4,601.17. Silver prices increased by 4.85 percent to $83.19, and also reached a record high of $83.88.
US Federal Reserve Chairman Jerome Powell revealed that the central bank had received a grand jury subpoena from the Justice Department. This matter is related to construction work at the central bank’s headquarters. This has further escalated tensions between US President Donald Trump and the central bank.
Rahul Kalantri, Vice President of Commodities at Mehta Equities Limited, said that growing geopolitical tensions, political pressure on the US central bank, and weaker-than-expected employment figures in the US are driving investors to buy gold and silver as safe-haven assets.
Meanwhile, violent protests in Iran have also added to market jitters. Investors are concerned that a worsening political situation there could impact oil supplies. Statements made by President Trump regarding Iran have also increased uncertainty. Last week’s US jobs data showed fewer jobs created than expected, increasing expectations that the central bank may cut interest rates this year.
According to analysts, gold is finding support at levels between ₹134,550 and ₹132,310, while resistance is seen between ₹141,350 and ₹143,670. Meanwhile, the support level for silver is between ₹248,810 and ₹244,170, and the resistance level is between ₹255,810 and ₹259,470.
Last week, the price of gold rose by more than 4 percent, while silver climbed by more than 7 percent. The war between Russia and Ukraine, the US’s attempt to arrest the Venezuelan president, and the US’s statements regarding Greenland also played a significant role in driving up gold and silver prices.
Follow Us on… 
+