Mumbai, Feb 5
Gold prices in India have surged to an all-time high, reaching ₹8,432 per gram on Wednesday, marking an increase of ₹1,322 compared to ₹8,310 on February 4. The sharp rise is driven by increased demand for gold as a safe investment amid global uncertainties.
Experts say the latest price surge is influenced by China’s response to US tariffs, which were initially imposed during Donald Trump’s presidency. Investors are turning to gold as a safe-haven asset, especially when economic and political conditions are unstable.
According to Motilal Oswal Financial Services, the market sees these US tariffs as inflationary, which is increasing the demand for gold. Gold is traditionally considered a reliable investment during times of inflation and geopolitical tension.
Gold and Silver Prices Across India
- 22-carat gold is priced at ₹8,230 per gram.
- On the Multi Commodity Exchange (MCX), April gold futures hit a peak of ₹84,200 per 10 grams.
- City-wise Gold Prices (24-carat per 10 grams):
- Delhi: ₹85,383
- Chennai: ₹85,231
- Mumbai: ₹85,237
- Kolkata: ₹85,235
Silver Prices Remain Steady
While gold has seen a steep rise, silver prices have remained relatively stable.
- March silver futures on MCX traded at ₹95,674 per kilogram.
- Silver has gained ₹1,400 per kg so far this week.
- City-wise Silver Prices (per kg):
- Chennai: ₹1,08,600 (highest)
- Delhi: ₹1,01,500 (lowest)
- Mumbai: ₹1,00,800
- Kolkata: ₹1,02,300
Global Market Trends
- In the international market, spot gold rose 0.2% to $2,847.33 per ounce, hitting a new record of $2,848.94 per ounce at one point.
- US gold futures remained stable at $2,876.10 per ounce.
- Spot silver also gained 0.2%, trading at $32.15 per ounce.
With ongoing global tensions and economic concerns, investors continue to see gold as a reliable investment, pushing its prices to new highs.
