Gold and silver prices soared to new heights on the Multi Commodity Exchange (MCX) due to escalating global trade and geopolitical uncertainties. February gold futures opened at Rs 1,45,775 per 10 grams, surging to a historic high of Rs 1,52,500 during the day, marking a significant gain of Rs 6,861 in a single session. This surge pushed gold above the Rs 1.50 lakh mark for the first time, continuing its winning streak for the second consecutive day.
Silver prices also saw a remarkable rally, with March delivery silver futures rising by Rs 17,723 on Tuesday, following a previous increase of Rs 22,153. The metal hit an all-time high of Rs 3,27,998 per kilogram, registering a month-to-date gain of nearly 36 percent. The market is witnessing heightened concerns over escalating trade tensions, triggered by fresh tariff threats from US President Donald Trump, leading to a surge in demand for safe-haven assets.
The recent surge in gold and silver prices is attributed to the growing uncertainty in global markets. Trump’s warnings of potential trade actions against European countries, coupled with threats of imposing 200 percent tariffs on French wine and champagne, have fueled fears of a new global trade conflict. Silver, in particular, has experienced a significant price surge due to strong investment demand and increased industrial usage, with prices rising by Rs 1 lakh in a short span of time.
Market experts suggest that the rapid rally in precious metals reflects investors’ increasing preference for safe-haven assets amidst the prevailing global uncertainties. The surge in gold and silver prices is indicative of the market’s cautious approach amid the current geopolitical and trade tensions, driving investors towards assets perceived as safe during times of turmoil.
