Gold crosses ₹1.41 lakh, silver breaks all records
Amid global uncertainties, investors have once again turned to safe-haven assets. This has led to both gold and silver reaching new record highs in domestic and international markets. Geopolitical tensions, concerns surrounding the US Federal Reserve, and a weaker dollar have bolstered the prices of precious metals.
Gold and Silver Set New Records on MCX
On Monday, February delivery gold on the Multi Commodity Exchange (MCX) surged by ₹2,431, or 1.8 percent, to a record high of ₹1,41,250 per 10 grams. In the past week, gold prices have risen by ₹3,058, or approximately 2.25 percent. Silver also broke all previous records. March delivery silver jumped by ₹11,271, or 4.46 percent, to reach ₹2,63,996 per kilogram.
Sharp Rise in International Markets
Along with domestic markets, precious metals also witnessed a significant surge globally. On COMEX, February delivery gold rose by $111.8, or 2.5 percent, to a new peak of $4,612.7 per ounce. Similarly, March contract silver gained $4.56, or 5.8 percent, reaching a historic high of $83.90 per ounce.
