New Delhi: Gold and silver witnessed significant gains today, with gold reaching a new record high and silver trading close to its all-time peak. Internationally, gold prices crossed $4,800 per ounce for the first time, fueling strong demand for safe-haven assets amid ongoing geopolitical tensions.
Why Prices Rose
The surge comes after the U.S. Supreme Court postponed any ruling on the legality of President Donald Trump’s tariffs, boosting demand for gold and silver as safe investments. Additionally, threats of tariffs related to Greenland and escalating trade tensions with European countries have further fueled investor interest in precious metals.
MCX Trading Update
On the MCX, gold for February 5 delivery opened with a gain of over ₹7,500. By 10:22 AM, it was trading at ₹1,58,250 per 10 grams, a 5.1% increase, compared to its previous close of ₹1,50,565. During the session, it hit a high of ₹1,58,250 and a low of ₹1,51,575.
Silver also saw substantial gains, rising ₹8,000 in early trading. March 5 delivery silver opened at ₹3,22,566 per kilogram and, by 10:38 AM, was trading at ₹3,31,616, up 2.45%. It touched a low of ₹3,20,007 and a high of ₹3,34,027 in the initial session.
City-Wise Gold Rates Today
- Delhi: Standard Gold (22K) – ₹1,09,968 per 8g, Pure Gold (24K) – ₹1,19,936 per 8g
- Mumbai: Standard Gold (22K) – ₹1,09,848 per 8g, Pure Gold (24K) – ₹1,19,832 per 8g
- Chennai: Standard Gold (22K) – ₹1,11,208 per 8g, Pure Gold (24K) – ₹1,21,320 per 8g
- Hyderabad: Standard Gold (22K) – ₹1,09,848 per 8g, Pure Gold (24K) – ₹1,19,832 per 8g
Market Drivers
The rise in gold and silver prices is attributed to strong safe-haven demand and a weaker U.S. dollar. Investors are turning to precious metals amid concerns that President Trump’s Greenland-related plans could trigger renewed trade tensions in Europe and disrupt global alliances such as NATO.
Discover more from SD NEWS agency
Subscribe to get the latest posts sent to your email.