Gold and Silver Prices Surge: Silver Crosses $100 per Ounce for the First Time

New Delhi: The rally in gold and silver prices continues unabated, with global markets witnessing historic highs. On Friday, silver prices on the New York Comex crossed the $100 per ounce mark for the first time ever, marking a 40% increase so far this year. Meanwhile, gold hovered around $5,000 per ounce, reflecting strong investor demand amid ongoing geopolitical tensions.

Domestic Market Trends
In India, the MCX silver February contract surged to ₹3,39,927 per kg during the trading session, before closing at ₹3,34,600 per kg, slightly down by ₹99 from the previous close. Gold for February delivery touched ₹1,59,226 per 10 grams intraday but ended at ₹1,55,963 per 10 grams, down ₹74 from the previous close.

Delhi Sarrafa Market Update
In Delhi’s retail market, gold prices rose by ₹1,500, closing at ₹1,58,700 per 10 grams. According to the All India Sarrafa Dealers Association, the increase was driven by fresh stockist purchases amid robust global trends. Silver also saw a sharp jump of ₹9,500, reaching ₹3,29,500 per kg from the previous close of ₹3,20,000 per kg.

Factors Driving the Surge
Experts attribute the rally in precious metals to global economic uncertainty, driven largely by unpredictable geopolitical events, including unexpected decisions by U.S. President Donald Trump. Investors continue to seek safe-haven assets like gold and silver as a hedge against market volatility.

With both international and domestic markets showing strong momentum, precious metals are set to remain in focus for traders and investors in the coming days.