• Source:JND

Gold, Silver Rates Today: The bullion price soared significantly on Monday, hitting fresh lifetime highs after the US president announced a fresh 10 per cent tariff on eight European countries for opposing his plans to acquire Greenland.

This tariff announcement gives another headwind to the global geo-political uncertainties, prompting buying momentum in gold, silver, and other crucial metals.

Silver futures rates on Multi Commodity Exchange (MCX) surpass the historic Rs 3,00,000 lakh per kilogram mark for the first time, soaring over Rs 13,500 to Rs 3,01,315 in the early trade against last day's closing price of Rs 2,87,762.

Similarly, MCX Gold surged nearly Rs 3,000 to hit a fresh lifetime high of Rs 1,45,500 per 10 grams in early trade from last session's closing of Rs 1,42,517.

At around 9:45 am, MCX Gold (February 5 expiry) was trading at Rs 1,44,650, up Rs 2,133 or 1.5 per cent. Meanwhile, MCX Silver (March 5 expiry) was at Rs 2,99,792, up Rs 12,030 or 4.18 per cent.

Gold-Silver Rates In International Market

The precious metal prices soared in the international market. At the time of writing, Comex gold was at $4,671.20, up $75.80 or 1.65 per cent. At the same time, Comex Silver was at $92.84, up $4.30 or 4.87 per cent.

"COMEX Gold is consolidating near the $4,670 zone after testing fresh lifetime highs around $4,700 earlier today. The recent pause reflects healthy profit-booking after a sharp rally, but the broader structure remains firmly bullish. Prices continue to hold well above the rising trendline and the 20-day EMA near $4,588, keeping the primary uptrend intact," said Ponmudi R, CEO of Enrich Money.

24k, 22K Gold Rate In India Today

In the line of the international market and the domestic futures market, the gold rate in the domestic retail market surged as well. The 24 karat gold rate in India today is Rs 1,45,590 per 10 grams. At the same time, the 22 karat gold price today is Rs 1,33,458 per 10 grams, while the 18 karat gold rate today in India is Rs 1,09,193 per 10 grams.

The Silver price today is domestic retail market is Rs 3,00,960 per kilogram.

Key Reasons Behind Rally

- Escalating trade tension due to uncertain geopolitical conditions across the world

- Heavy buying from central Banks, financial institutions, and investors, creating a gap between supply and demand. 


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