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Record Gold Rates: India's Safe Haven Surge
20 Jan
Summary
- Gold futures surged nearly ₹3,000 to an all-time high of ₹1,45,500 per 10 grams.
- International spot gold rose 1.7% to $4,673 per ounce amid global instability.
- Rising gold prices are driven by geopolitical tensions and demand for safe assets.
Gold prices in India have experienced a substantial increase, driven by heightened global geopolitical tensions and trade uncertainties. Investors are increasingly turning to gold as a safe-haven asset amid fresh unrest in Iran and looming US tariff threats.
On the Multi Commodity Exchange (MCX), February gold futures recorded an all-time high, surging by nearly ₹3,000 to ₹1,45,500 per 10 grams. Silver has also seen a sharp rise, reaching record levels.
Internationally, spot gold climbed 1.7% to $4,673 per ounce, while silver futures saw a significant spike. This global appetite for precious metals underscores times of economic uncertainty.
