Why are gold and silver prices hitting record highs on MCX?

Gold and silver prices are reaching record highs due to strong domestic demand for these precious metals.

What was the impact of US President Trump's comments on gold prices?

Comments from US President Trump on the Federal Reserve chair created uncertainty, dampening safe-haven demand for gold.

Did silver prices also reach new highs recently?

Yes, silver prices have surged significantly, touching an all-time high recently after increasing more than 20% in four sessions.

Home / Business and Economy / Gold, Silver Smash Records Amidst Demand Surge

Gold, Silver Smash Records Amidst Demand Surge

16 Jan

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Summary

MCX gold and silver prices reached record highs Wednesday.
Domestic prices surged, while international markets saw declines.
US President's comments and tariffs influenced global market trends.

Gold, Silver Smash Records Amidst Demand Surge

Precious metal prices on India's Multi Commodity Exchange (MCX) achieved new all-time highs on Wednesday. Gold surged to ₹1,43,590 per 10 grams, while silver soared to ₹2,91,406 per kilogram, reflecting strong domestic demand.

Conversely, international markets witnessed a retraction on Thursday. Spot gold prices declined 0.6% to $4,594.66 per ounce, and spot silver fell 5.3% to $87.88 per ounce. This dip occurred after earlier record-breaking sessions, as investors took profits.

Global market sentiment was shaped by evolving statements from US President Donald Trump regarding the Federal Reserve chair and uncertainty over tariffs. These factors dampened safe-haven demand for gold and influenced silver's performance, leading to profit-taking across both metals.

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