Gold Prices Soar to Historic Highs Amid Global Uncertainties

Gold prices reached record levels on Wednesday amid expectations of further monetary easing by the Federal Reserve and escalating geopolitical tensions. Gold futures hit Rs 1,38,676 per 10 grams in India, while international prices surpassed USD 4,500 per ounce. Silver also saw significant gains, reflecting broader market trends.

Gold prices soared to unprecedented levels, reaching Rs 1,38,676 per 10 grams in futures trade on Wednesday. This surge is attributed to forecasts of further monetary easing by the Federal Reserve and increasing geopolitical tensions worldwide.

Meanwhile, gold prices in the global market surpassed USD 4,500 per ounce, marking a significant milestone. Silver prices mirrored this upward trend, with futures climbing by USD 1.61, or 2.23 percent, to reach an all-time high of USD 72.75 per ounce.

According to Jigar Trivedi, Senior Research Analyst at Reliance Securities, the precious metals have benefited from their safe-haven appeal amid market uncertainties, with investors still anticipating policy rate cuts and observing geopolitical developments.