Gold hits fresh record at 1.48 lakh on MCX; Silver scales new peak amid global tensions

Gold and silver prices surged to fresh record levels on the Multi Commodity Exchange on Tuesday, tracking strong global cues amid heightened geopolitical tensions and a weaker US dollar. MCX gold climbed close to the Rs. 1.48 lakh per 10 gram mark, while silver prices jumped more than 2%, reflecting robust safe-haven demand.

MCX gold opened higher at Rs. 1,45,775 per 10 grams and later touched a record high of Rs. 1,47,996. Silver, after opening lower at Rs. 3,06,499 per kg, rebounded sharply to scale a new lifetime high of Rs. 3,19,949 per kg during the session.

In the international market, gold and silver traded near all-time highs as fears of escalating US–Europe trade tensions unsettled investors. Spot gold hovered around $4,670 per ounce after hitting a record in the previous session, while silver briefly crossed $94 per ounce before easing.

The rally in precious metals was driven by rising safe-haven demand and a soft US dollar, following renewed geopolitical uncertainty triggered by US President Donald Trump’s push to assert control over Greenland, prompting the European Union to consider countermeasures, according to reports.

Market participants said strong buying interest remains intact as investors closely track geopolitical developments and await key economic data for further cues. Analysts noted that both gold and silver continue to display a strong bullish bias, with dips attracting aggressive buying.