Gold and Silver Prices Surge to All-Time Highs, Silver Nears ₹1.5 Lakh Mark

Gold Silver Price Today: A significant surge has been observed in gold and silver prices, pushing them to new all-time highs. The price of silver is nearing ₹1.5 lakh.

Gold Silver Price Today: Gold prices saw a significant surge on Monday, the first trading day of the week, reaching a new all-time high. In the domestic futures market, the rate of gold traded at ₹1,19,636 per 10 grams during early trade on the MCX exchange, marking an increase of 1.29 per cent or ₹1523. This is a record high for gold. Prices are also witnessing a substantial rise globally.

Why have gold prices surged?

The surge in gold prices is attributed to a significant jump in the global market and strong demand from the spot market ahead of Diwali. For the first time in the global market, gold crossed the $3900 per ounce level on Monday. Demand for gold as a safe-haven asset has increased due to the US government shutdown, which has supported prices. Additionally, expectations of a rate cut by the US Federal Reserve are also driving prices up.

Significant surge in silver prices as well

Along with gold, silver prices have also seen a substantial increase. In the domestic futures market, silver prices have reached a new all-time high. On Monday morning, the price of silver traded at ₹1,47,234 per kilogram on the MCX exchange, up by 1.02 per cent or ₹1490.

Global gold prices

Global gold prices saw a significant surge on Monday morning. On COMEX, gold traded at $3,954.60 per ounce, up by 1.17 per cent or $45.70. Meanwhile, Gold Spot traded at $3,928.11 per ounce, an increase of 1.07 per cent or $41.57.

Global silver prices

Along with gold, silver prices have also witnessed a substantial surge. On COMEX, the global price of silver traded at $48.27 per ounce, up by 0.59 per cent or $0.30. Meanwhile, Silver Spot traded at $48.45 per ounce, an increase of 0.95 per cent or $0.46.