Gold and silver have etched history books today, surging to stratospheric heights that redefine investment landscapes. MCX benchmarks show gold at an unrivaled ₹78,500/10g and silver at ₹98,000/kg, gains of 4% and 6% respectively in 24 hours.
Behind the headlines lies a confluence of macro forces. Heightened Israel-Iran frictions have supercharged safe-haven bids, reminiscent of 2022’s Ukraine shock. Meanwhile, US CPI figures exceeding forecasts have dimmed rate-cut hopes, bolstering real yields inversely for gold.
In India, the rupee’s depreciation amplified imported price pressures. Central banks snapped up 1,200 tonnes of gold this year alone, per World Gold Council data. Silver’s blistering pace ties to supply crunches—mine output lags surging industrial needs in tech and renewables.
Market players offer varied takes. Bulls eye $2,800 gold by year-end; bears caution on potential de-escalation. For everyday Indians, making or breaking family heirlooms, this rally tests resolve.
Strategic advice: Hedge with physical holdings or derivatives, but mind the volatility. As one expert puts it, ‘This isn’t a bubble—it’s a recalibration.’ Precious metals’ renaissance underscores their timeless appeal in turbulent times.