The record-breaking surge in gold and silver prices continues unabated. Gold and silver prices witnessed another sharp rise today, with both precious metals touching new all-time highs. Following the record highs reached in the global market on Monday, the price of 99.9 percent pure gold in the Delhi bullion market surged by a sharp Rs. 1685 to reach a new all-time high of Rs. 1,38,200 per 10 grams. It’s worth noting that last Friday, gold prices had remained stable at Rs. 1,36,515 per 10 grams.
Besides gold, silver prices also saw a phenomenal surge today. In Delhi, silver prices jumped by a massive Rs 10,400 to reach a new all-time high of Rs 2,14,500 per kilogram. Last Friday, silver prices had closed at Rs 2,04,100 per kilogram after a decline of Rs 3500. Silver prices had already set a new record last Thursday, rising by Rs 1800 to Rs 2,07,600 per kilogram. Furthermore, in international markets, spot silver also rose by $ 2.31 or 3.44 percent to a record high of $69.45 per ounce.
Soumil Gandhi, Senior Analyst (Commodities) at HDFC Securities, said, “The rally in bullion continued with gold and silver hitting another record high on Monday.” In international markets, spot gold rose by $80.85, or 1.86 percent, to a record high of $4420.35 per ounce. Gandhi added, “Investor interest in silver and gold has increased significantly due to falling interest rates in the US, rising fiscal concerns, and increasing uncertainty in the US economy. This has led to a shift towards safe-haven assets.”
