Gold and Silver Prices Skyrocket Amid Economic Uncertainty

Amid growing global economic uncertainties, gold and silver prices in India have reached unprecedented levels, marking a significant rally in the precious metals market. On Monday, gold prices soared to Rs 1.19 lakh per 10 grams, while silver rocketed by Rs 7,000 to touch Rs 1.5 lakh per kilogram in the national capital.

This surge is echoed on the international stage, where spot gold and silver posted robust gains. Gold exceeded USD 3,800 per ounce, and silver surpassed USD 47 per ounce, as investors seek refuge in these safe-haven assets amid economic concerns, such as potential US government shutdowns and global trade tensions.

Experts attribute this rally to several factors, including bullish overseas market cues, Federal Reserve rate cut expectations, industrial demand for silver, especially in solar panels and technology, and central banks' strategic moves. As geopolitical uncertainty persists, gold and silver remain attractive investment options.

(With inputs from agencies.)