Precious Metals Surge Amid Geopolitical Tensions and Economic Volatility

Silver and gold prices hit record highs due to geopolitical tensions and economic concerns. Silver reached Rs 2,65,000 per kg and gold Rs 1,44,600 per 10 grams. Internationally, silver surged to USD 84 per ounce and gold to USD 4,601.69 per ounce as demand for safe-haven assets increased.

In an unprecedented rally, silver and gold prices have soared to record levels, as geopolitical tensions and economic uncertainties drive investors towards safe-haven assets. Silver prices in the national capital jumped by Rs 15,000 to a historic Rs 2,65,000 per kilogram, while gold advanced to a fresh high of Rs 1,44,600 per 10 grams, reflecting gains seen globally.

The international markets echoed this trend with spot gold climbing past USD 4,600 per ounce for the first time, and silver achieving a record USD 84 per ounce. Analysts attribute these movements to rising geopolitical risks, including escalating conflicts in Iran and Ukraine, and economic concerns over Federal Reserve's potential interest rate cuts.

Adding to the volatility, a criminal investigation into Federal Reserve Chair Jerome Powell has shaken investor confidence in the US dollar, further bolstering bullion prices. With evolving tensions and economic indicators in focus, the precious metal market outlook remains optimistic, driven by continuous demand for secure investment options.

(With inputs from agencies.)