By Gitika Sharma
Due to global factors, gold and silver prices in India reached all-time highs on Monday. Over the weekend, the price increase was primarily motivated by the growing possibility of lower interest rates in the US in the near future, which would depreciate the dollar. Safe-haven assets became more popular among investors as a result of rising geopolitical tensions and trade anxieties brought on by tariffs. In addition, the expected industrial demand caused silver’s price to rise.
Gold reached a record high of nearly $3,750 per ounce on global markets, and it was already close to $3,800. Silver also saw a significant increase, reaching its highest level in 14 years and breaking through the $44 per ounce barrier. In India, MCX October gold futures were trading at approximately ₹1.12 lakh for every 10 grams, while December silver futures peaked at ₹1.33 lakh per kilogram.
International causes were mostly responsible for the spike, according to experts. Recent spikes in gold prices to all-time highs have been caused by geopolitical concerns, trade turmoil, the impact of US tariffs, and dismal job market indicators in the US. As a result, the US central bank has lowered interest rates.
The MD of Kama Jewellery, Colin Shah, claims that these have made gold a more appealing asset globally. Meanwhile, the uncertainty is being fueled by U.S. political events and developments. Trump’s policies, including the most recent one related to H1B visas, have caused tensions over international trade and further perplexed people.
Analysts also pointed out that safe-haven demand and central bank purchases are the two primary drivers of the surge. Safe buying and central bank buying are the two main variables influencing the price of gold. The range of $3,900-$4,000 is now accessible. “Silver is just a shadow of gold,” said Gupta. Analysts also highlighted the dovish stance of the U.S. Federal Reserve. According to experts, the trend will continue as long as there is global geopolitical and economic uncertainty.