Gold prices skyrocketed to unprecedented lifetime highs on Wednesday, propelled by a sharp decline in the US dollar and escalating geopolitical tensions that fueled robust safe-haven demand among investors. Simultaneously, silver extended its record-breaking rally in futures trade, underscoring the broad-based strength in precious metals.
MCX Futures Reach New Peaks
On the Multi Commodity Exchange (MCX), gold futures for the February contract witnessed a significant surge, climbing by Rs 4,730, or 3 per cent, to achieve a new historic peak of Rs 1,62,429 per 10 grams. The yellow metal has maintained strong support from sustained investor buying, driven by heightened global uncertainty and economic volatility.
Silver futures, in a parallel move, jumped more than 7 per cent to hit a lifetime high of Rs 3.83 lakh per kilogram in futures trade. This remarkable performance highlights the intense demand for both gold and silver as safe-haven assets in turbulent times.
City-Wise Gold Rates Across India
Here is a detailed breakdown of gold prices in major Indian cities today, reflecting the widespread upward trend:
Gold Price in Delhi Today
In the national capital, gold prices climbed sharply. 22K gold was quoted at Rs 15,330 per gram, marking an increase of Rs 470, while 24K gold rose by Rs 513 to reach Rs 16,723 per gram.
Gold Price in Mumbai Today
Mumbai witnessed similar gains, with 22K gold advancing by Rs 470 to Rs 15,315 per gram. 24K gold was priced higher by Rs 513, standing at Rs 16,708 per gram.
Gold Price in Chennai Today
Chennai experienced a steeper jump compared to other metropolitan cities. 22K gold rose by Rs 650 to Rs 15,610 per gram, and 24K gold climbed by Rs 709 to Rs 17,029 per gram.
Gold Price in Kolkata Today
Kolkata markets mirrored the trend seen in Mumbai. 22K gold traded at Rs 15,315 per gram after a Rs 470 rise, while 24K gold stood at Rs 16,708 per gram, up by Rs 513.
Gold Price in Jaipur Today
In Jaipur, gold prices remained firm as 22K gold gained Rs 470 to Rs 15,330 per gram, and 24K gold increased by Rs 513 to Rs 16,723 per gram.
Gold Price in Hyderabad Today
Hyderabad witnessed similar gains, with 22K gold priced at Rs 15,315 per gram, up by Rs 470, and 24K gold at Rs 16,708 per gram, higher by Rs 513.
Gold Price in Ahmedabad Today
Ahmedabad bullion markets saw 22K gold move up by Rs 470 to Rs 15,320 per gram, while 24K gold was quoted at Rs 16,713 per gram, up by Rs 513.
Gold Price in Patna Today
In Patna, gold prices strengthened with 22K gold selling at Rs 15,320 per gram after a Rs 470 increase, and 24K gold rising by Rs 513 to Rs 16,713 per gram.
Gold Price in Lucknow Today
Lucknow recorded firm gains as 22K gold climbed by Rs 470 to Rs 15,330 per gram, while 24K gold stood at Rs 16,723 per gram, higher by Rs 513.
Gold Price in Bhubaneswar Today
Bhubaneswar markets also tracked the broader uptrend, with 22K gold priced at Rs 15,315 per gram, up by Rs 470, and 24K gold at Rs 16,708 per gram, higher by Rs 513.
The surge in gold and silver prices is largely attributed to a combination of factors, including the weakening US dollar, which makes precious metals more affordable for holders of other currencies, and renewed geopolitical tensions that drive investors towards safe-haven assets. This trend reflects the ongoing global economic uncertainties and the strategic role of gold and silver in investment portfolios.
