Record Highs in Precious Metals

Gold and silver prices soared to unprecedented levels on Monday, with gold surging by Rs 1,300 to reach an all-time high of Rs 90,750 per 10 grams for 99.9% purity, and silver hitting Rs 1,02,500 per kg. This remarkable increase is attributed to global market trends, US tariffs, trade tensions, and anticipations of the Federal Reserve's monetary policy easing.

Factors Driving the Surge

Saumil Gandhi, Senior Analyst at HDFC Securities, highlights central bank purchases and global economic instability as key drivers. The demand for safe-haven assets has escalated due to economic policies under US President Donald Trump, heightening economic uncertainty and boosting gold prices.

Market Reactions and Future Outlook

Gold futures for April delivery rose to Rs 88,004 per 10 grams on the Multi Commodity Exchange. Internationally, spot gold climbed to USD 2,998.90 per ounce, with Comex gold futures trading higher at USD 3,007 per ounce. Investors are eagerly awaiting the Federal Open Market Committee meeting for insights into the Fed's monetary policy direction.