Gold and silver prices rose sharply on Monday as fast-changing global developments pushed investors toward safe-haven assets. Rising geopolitical tensions, pressure on the US Federal Reserve, and unrest in Iran increased demand for precious metals. As a result, gold and silver touched record levels in both domestic and international markets.
Gold and Silver Reach Record Levels
On the Multi Commodity Exchange (MCX), gold futures for the February contract climbed 1.46 percent to trade at ₹1,40,838 per 10 grams. Silver futures for the March contract jumped 3.66 percent to ₹2,61,977 per kilogram. In the international market, spot gold prices surged to a record high of $4,601 per ounce, reflecting strong global demand.
Safe-Haven Demand Drives the Rally
Global uncertainty played a major role in the surge. Pressure on the US Federal Reserve increased after the US Department of Justice issued summons related to testimony on the Fed headquarters renovation. This development raised concerns about the central bank’s independence. At the same time, violent protests in Iran added to geopolitical risks.
Market experts say investors are shifting funds to safe-haven assets such as gold and silver. Rahul Kalantri of Mehta Equities said concerns over the US Fed, unrest in Iran, weak US jobs data, and ongoing global conflicts have supported the rally. Analysts noted that gold faces resistance near ₹1,41,350, while silver may see resistance around ₹2,55,810.
Experts expect gold and silver prices to remain firm if global tensions continue. Investors are likely to stay cautious as they track economic data and geopolitical developments.
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