Gold and Silver Prices Skyrocket Amid Global Uncertainties

Gold and silver prices have soared to unprecedented highs in light of ongoing geopolitical tensions and the US government shutdown, driving investors towards safe-haven assets. Analysts observe a record-breaking rally in precious metals, surging exchange-traded funds, and substantial investments from high-net-worth individuals.

Gold prices soared for the third consecutive day, hitting a new lifetime high of Rs 1,26,600 per 10 grams in the national capital on Wednesday. The surge aligns with strong global patterns amid continued geopolitical tensions due to the prolonged US government shutdown.

The precious metal has gained Rs 6,000 in the last three days as global risk-aversion motivates investors to seek safe-haven assets. This upward trend is supported by significant purchases by central banks and investments from high-net-worth individuals.

Similarly, silver prices surged by Rs 3,000, nearing record highs, with global markets witnessing robust traction in bullion prices. Spot gold exceeded USD 4,000 per ounce for the first time, reflecting an optimistic outlook driven by geopolitical uncertainties and inflation concerns.

(With inputs from agencies.)