Patna: Gold and silver prices in India’s bullion market have surged to record levels this week, driven by rising global uncertainty and growing investor demand for safe-haven assets.
On the Multi Commodity Exchange (MCX), the April futures contract for gold was trading close to Rs 169,880 per 10 grams, approaching the psychological mark of Rs 1.70 lakh. Silver futures for May delivery have also climbed sharply, crossing Rs 285,000 per kg and moving toward the historic Rs 300,000 level.
The sharp rise has caught the attention of investors and market watchers, with both metals gaining momentum amid geopolitical tensions and economic uncertainty.
Market analysts say the surge has been largely fuelled by escalating tensions in the Middle East, particularly concerns surrounding the United States and Iran. Periods of geopolitical instability typically drive investors to shift funds away from riskier assets such as equities and toward traditionally safer investments like gold.
Rising crude oil prices have also contributed to the rally in precious metals. Higher energy prices have increased fears of inflation and potential supply chain disruptions, factors that often strengthen demand for gold and silver.
Despite the rapid gains, analysts say the bullish trend may continue in the near term. Ponmudi R, chief executive of Enrich Money, said gold could soon cross the Rs 1.70 lakh level if it manages to sustain its current price range.
However, he cautioned that investors should remain alert to possible corrections. If gold falls below Rs 157,000, the price could retreat toward Rs 150,000, he said.
For silver, analysts identify the Rs 255,000 to Rs 265,000 range as a strong demand zone. If momentum continues, prices could move toward Rs 305,000 per kg in the coming weeks.
Market experts have advised retail investors to exercise caution amid heightened volatility. They say trading without a clear strategy could be risky in the current environment and recommend using strict stop-loss levels and disciplined investment strategies.
