Gold and Silver soar to record highs

Gold prices continued their upward momentum for the fourth consecutive session on Friday, hitting fresh record highs in domestic and global markets as investors flocked to safe-haven assets amid expectations of interest rate cuts in the United States and rising geopolitical tensions. On the Multi Commodity Exchange (MCX), gold futures for February delivery rose by about one per cent to an all-time high of Rs1,39,550 per 10 grams, moving closer to the ₹1.4 lakh mark. This marked the fourth straight day of record highs for gold. Prices have risen around 10 per cent so far this month and are up nearly 81 per cent in 2025.

Silver prices also extended their strong rally. March silver futures on MCX surged by Rs11,457 per kilogram, or 5.1 per cent, to touch a record high of Rs2,35,247 per kilogram. With this, silver’s gains for the year have climbed to about 167 per cent. The rally was mirrored in international markets. Spot gold climbed to a fresh record high of $4,530.60 per ounce, while spot silver crossed the $75 per ounce mark for the first time, reaching $75.64.

Other precious metals also witnessed sharp gains. Spot platinum jumped 9.3 per cent to $2,465.20 per ounce after touching an all-time high earlier in the session. Palladium rose 8.6 per cent to $1,942 per ounce, following a three-year high in the previous session. All major precious metals are headed for strong weekly gains, with platinum registering its strongest weekly rise on record.