Gold and silver prices moved sharply higher on Monday. This rise came as global uncertainty increased and the U.S. dollar weakened further. As the dollar index slipped to a four-year low, investors turned to safe assets. Because of this shift, precious metals gained strongly in both domestic and global markets.
Gold Rates Jump Across Markets
In Hyderabad, 24-carat gold climbed by ₹8,000 to reach ₹1,70,447 per 10 grams. At the same time, 22-carat gold also moved up and now costs ₹1,51,400 per 10 grams. Meanwhile, global prices followed the same trend. Spot gold rose to $5,296.79 per ounce, showing strong buying interest.
Silver Reaches Historic High
Along with gold, silver prices also surged to record levels. In Hyderabad, silver traded at ₹3.75 lakh per kilogram. In addition, prices on the Multi-Commodity Exchange rose further. March delivery contracts touched ₹3.83 lakh per kilogram. Internationally, silver climbed to $114 per ounce, marking a fresh high.
Why Precious Metals Are Rising
Experts say several factors are driving this rally. Firstly, global economic worries continue to grow. Secondly, the weak U.S. dollar has made metals more attractive. Moreover, investors are using gold and silver as protection against inflation and currency risk. As long as uncertainty remains, prices may stay firm in the coming days.
