New Delhi: Gold prices soared to an unprecedented level in the domestic market on Thursday, with futures touching Rs 1.75 lakh per 10 grams during early trade. Silver prices also mirrored the rally, scaling fresh record highs.
Market participants said the sharp upswing was driven by strong cues from international bullion markets, coupled with a steep depreciation of the rupee, which slipped close to its lowest-ever level against the US dollar.
On the Multi Commodity Exchange (MCX), gold futures registered a jump of nearly 6 per cent to hit a lifetime high of Rs 1,75,869 per 10 grams soon after trading began. Silver futures surged by a similar margin, rising around 6 per cent to reach an all-time peak of Rs 4,07,456 per kilogram.
Dealers noted that heightened global uncertainty and sustained demand for safe-haven assets have continued to push precious metal prices higher. The weakening rupee has further amplified gains in the domestic market, making imported commodities such as gold and silver more expensive.
Analysts said investors are closely tracking global economic signals and currency movements, which are expected to remain key factors influencing bullion prices in the near term.
