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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.
Daily price fluctuations in gold can significantly impact financial planning and jewelry purchases for both buyers and investors. Rates vary slightly across Indian cities, emphasizing the need to check local prices before making decisions.
