Gold Prices Skyrocket Over ₹1.4 Lakh Per 10 Grams Amid Global Turmoil
Gold prices in India have surged past ₹1.4 lakh per 10 grams, a lifetime high driven by widespread investor demand for safe-haven assets. This unprecedented rally is fueled by geopolitical uncertainties, anticipation of US Federal Reserve interest rate cuts, and a weakening dollar, significantly impacting investment strategies. The continuous climb underscores a crucial shift in global financial confidence, potentially affecting consumer purchasing power and the broader Indian economy.
Gold prices in India have soared to an unprecedented ₹1.4 lakh per 10 grams, marking a historic high as investors flock to the precious metal for safety amid increasing global uncertainties. This significant rally reflects a clear shift in how people view financial stability, driven by geopolitical tensions, a weaker US dollar, and strong expectations of interest rate cuts by the US Federal Reserve. The continuous climb signals deep-seated concerns about the global economy and the value of traditional investments.
The yellow metal’s remarkable ascent saw February futures on the Multi Commodity Exchange (MCX) jump to a record ₹1,38,381 per 10 grams, while international Comex gold futures hit over $4,530 per ounce. This surge isn't just a fleeting moment; it represents a nearly 78.5% year-to-date increase from December 2024. Across major Indian cities, 24-karat gold now trades between ₹13,855 and ₹14,270 per gram, showcasing a widespread demand.
Silver is mirroring gold's impressive performance, reaching a record high of ₹2.23 lakh per kilogram. Silver futures on the MCX also saw significant gains, rising by over ₹4,000 to hit ₹2,16,596 per kilogram. This strong upward trend for silver is powered by its dual role as both a safe-haven asset and an industrial metal, benefiting from increased investment and industrial demand. Since January 2025, silver prices have surged by an astonishing 142.2%.
Experts highlight that the ongoing US debt issuance, combined with a potential easing of US monetary policy and easing inflation, is pushing investors towards these precious metals. The anticipation of the US Federal Reserve reducing interest rates makes non-yielding assets like gold more attractive. Additionally, recent geopolitical events, such as tensions between the US and Venezuela, further fuel the demand for safe havens.
This consistent upward trajectory for gold and silver underscores a crucial change in global financial confidence. For Indian consumers and investors, these record-high prices will significantly impact purchasing power, investment strategies, and potentially the broader economic landscape as wealth shifts into precious metals.
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