In a flight to safety, gold and silver prices shattered records Thursday, propelled by President Donald Trump’s escalating rhetoric against Iran and rising Middle East flashpoints. Investors dumped riskier bets, flocking to precious metals as uncertainty gripped the globe.
Trump pressed Iran to re-engage on nuclear issues, threatening intensified strikes amid beefed-up US forces in the area. A faltering dollar, voracious central bank purchases, and the Fed’s steady-rate stance supercharged the surge.
By 12:02 PM on MCX, February gold had rocketed 6.98% (Rs 11,575) to Rs 1,77,490/10g. March silver jumped 6.13% (Rs 23,633) to Rs 4,08,999/kg. Global silver lingered around $120/oz, up over 60% YTD from supply disruptions.
Technical charts reveal bullish conviction: prior $5,600/oz hurdles now serve as firm floors. Tariff spats with partners, shutdown specters, and macroeconomic frailties like debt piles and sluggish growth bolster the case for more gains.
Fed signals of enduring low rates ensure liquidity floods markets, turning corrections into accumulation zones. For portfolio guardians, this environment screams ‘buy the dip’ on gold and silver.
As superpowers posture and economies wobble, these metals stand tall as bastions of value preservation.