Gold Hits Unprecedented Highs

Gold prices have soared to an all-time high of Rs 98,100 per 10 grams in the national capital, marking a significant increase of Rs 1,650 in just one day. This remarkable surge is attributed to growing global interest in safe-haven assets, fueled by escalating trade tensions between the United States and China.

Silver Follows Suit

Not to be outdone, silver prices also experienced a sharp rise, increasing by Rs 1,900 to reach Rs 99,400 per kg. This upward movement in precious metals reflects a broader trend of investors seeking stability in volatile markets.

Global Market Reactions

Internationally, spot gold reached a record high of $3,318 per ounce, while spot silver rose nearly 2% to $32.86 per ounce during Asian market hours. Gold futures in New York also hit a lifetime high, underscoring the global nature of this surge.

Expert Insights

Experts point to several factors driving this rally, including the weakened US dollar and sustained central bank buying. "The current macro environment continues to offer strong support for gold," noted one CEO, highlighting the complex interplay of economic indicators influencing market dynamics.