Gold, Silver Rates Today: Gold Nears Rs 1.46 Lakh, Silver Hits Rs 3 Lakh On MCX

New Delhi: On Monday, gold and silver reached record levels in the international market. Investors turned to safe investments amid fears of a worsening global situation, which led to strong buying of both the precious metals. The increasing trade tensions between America and Europe and threats of new tariffs had increased uncertainty in the market, which directly benefited gold and silver.

Why did gold and silver suddenly shine?

According to experts, nervousness among investors increased after US President Donald Trump warned of imposing additional tariffs on European countries. He had said that if America was not allowed to buy Greenland, more stringent trade tariffs would be imposed on Europe. After this statement, there was a stir in the stock markets, and investors turned to gold and silver as a safe option.

Where did the prices reach in the international market?

The price of spot gold rose to around $4,670 an ounce, while during trading it also touched a record high of $4,689. US gold futures also appeared strong and traded at around $4,677. At the same time, silver showed more growth and went above $93 per ounce, which is considered to be the highest level to date.

What role did the dollar's weakness play?

During this period, weakness was also seen in the US dollar. The dollar index fell slightly to around 99. A weaker dollar typically makes gold and silver cheaper, making it easier for investors in other countries to buy. Its effect also came out in the form of a rise in prices.

What was the situation on MCX in India?

The effect of this rise was clearly visible in the Indian market also. On the Multi Commodity Exchange (MCX), gold reached close to Rs 1.45 lakh per 10 grams in early trade. Whereas for the first time silver was seen trading around Rs 3 lakh per kg. Experts say that due to international signals, the domestic market may also remain bullish.

Will prices increase further or will there be stagnation?

Commodity experts believe that if global tensions persist and the dollar remains weak, further rises in gold and silver are possible. However, some analysts also say that profit-taking may start at higher levels, due to which a slight decline may also be seen. At present, the market's eyes are fixed on America-Europe relations and the upcoming statements.