Gold hits ₹1.41 lakh/10g and silver reaches ₹2.63 lakh/kg as prices soar amid global tensions and Fed uncertainty.

Gold and silver prices surged to record levels in both domestic and international markets on Monday, driven by rising demand for safe-haven investments amid global geopolitical tensions and uncertainty surrounding the U.S. Federal Reserve.

Domestic Gold and Silver Prices:

On the Multi Commodity Exchange (MCX), February delivery gold climbed ₹2,431, or 1.8%, to hit ₹1,41,250 per 10 grams, marking an all-time high. Over the past week, gold prices have increased by ₹3,058.

Silver also witnessed strong gains. March delivery silver futures rose ₹11,271, or 4.46%, to reach ₹2,63,996 per kilogram. In the last week, silver prices surged nearly 7%.

International Markets Witness Record Surge:

On the COMEX exchange, February delivery gold jumped $111.8, or 2.5%, to $4,612.7 per ounce, a record level. Meanwhile, March silver contracts rose $4.56, or 5.8%, to $83.90 per ounce, hitting historic highs.

Geopolitical Tensions and Fed Uncertainty Fuel Demand:

Investors turned to precious metals amid rising global risks, including the escalating situation in Iran and ongoing conflicts in Ukraine, as well as uncertainty over the Federal Reserve’s decisions. U.S. Justice Department’s recent legal summons to the Fed added to market concerns, particularly regarding the $2.5 billion renovation of two Fed buildings, which former President Donald Trump criticized.

Analysts also pointed out that the weakening U.S. dollar, with the Dollar Index hovering around 99.03, provided additional support to gold and silver prices.

Safe-Haven Investment Trend:

The combined effect of global political instability and concerns over the Fed’s independence drove investors toward safe-haven assets like gold and silver, pushing prices to record levels. Experts believe this trend may continue in the near term if geopolitical tensions persist and market uncertainty remains high.

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