Gold Prices Approach Rs 1.50 Lakh Milestone; Silver Records Unprecedented Surge
New Delhi: Gold and silver prices have reached unprecedented levels in the domestic market, driven by global economic headwinds and pervasive uncertainty.
On Monday, gold prices surged, nearing the Rs 1.50 lakh mark per 10 grams, before settling at Rs 1.38 lakh. Simultaneously, silver prices experienced a significant upswing, climbing to Rs 2.21 lakh per kilogram.
In the Delhi market on Monday, the price of gold escalated by Rs 1,685, settling at Rs 1,38,200 per 10 grams. Silver prices witnessed a substantial increase of Rs 10,400 per kilogram, reaching Rs 2,14,500. In Bengaluru, the price of 22-carat gold rose to Rs 1,27,720 per 10 grams, while silver attained Rs 2,21,800 per kilogram.
Several factors have contributed to this surge. Anticipated interest rate reductions in the United States, apprehension regarding the Trump administration’s fiscal deficit management, and general global economic instability have collectively prompted investors to seek refuge in gold, traditionally regarded as a safe-haven asset. This shift has precipitated a notable increase in gold prices. Concurrently, heightened investment activity and robust demand from industrial sectors have propelled silver prices to record highs.
Since January 1 of the current year, gold prices have appreciated by approximately Rs 54,000 per 10 grams, representing an increase of approximately 65%. Over the same period, silver prices have surged by Rs 1.26 lakh per kilogram, marking a growth of approximately 126%. The substantial gains reflect the increasing appeal of precious metals as stores of value in an uncertain economic climate.