Gold, Silver Rates Today LIVE: Gold and silver prices hit fresh record highs on Wednesday, buoyed by strong safe-haven demand amid a weakening US dollar and escalating tensions over the Greenland crisis. Additional support came from the meltdown in the Japanese government bonds.
Spot gold price surged past the psychological milestone of $4,800 an ounce for the first time, as safe-haven demand kept bullion a favored asset. Silver prices also scaled a peak of $95.87 an ounce.
MCX Gold, Silver Prices
On Wednesday, MCX gold price opened higher at ₹1,51,575 for 10 grams, compared to ₹150,565 from the previous session. The precious metal reached a new all-time high of ₹1,58,339 per 10 grams today.
The MCX silver price started at ₹3,22,566 for 1 kg compared to ₹3,23,672 in the last trading session. The white metal reached a new all-time high of ₹3,34,840 per kg today.
Heightened rhetoric at the World Economic Forum in Davos highlighted the rapid deterioration in relations between traditional allies, the US and Europe, unnerving investors. The uncertainty weighed on the dollar and reinforced demand for safe-haven assets such as precious metals.