Mumbai–Gold prices continued their relentless surge for the fourth consecutive session on Friday, scaling fresh record highs in both domestic and global markets as investors flocked to safe-haven assets amid expectations of US interest rate cuts and rising geopolitical tensions.
On the Multi Commodity Exchange (MCX), gold futures for February delivery jumped 1 per cent to an all-time high of Rs 1,39,550 per 10 grams, inching closer to the psychologically significant Rs 1.4 lakh mark. The yellow metal has gained around 10 per cent so far this month and is up a remarkable 81 per cent in 2025.
Silver prices mirrored the strong momentum, with March futures on MCX surging by Rs 11,457 per kilogram, or 5.1 per cent, to hit a historic high of Rs 2,35,247. With this rally, silver’s year-to-date gains have climbed to an impressive 167 per cent.
The rally extended to international markets as well. Spot gold touched a fresh record of $4,530.60 per ounce, while spot silver crossed the $75 per ounce mark for the first time, hitting $75.64.
Other precious metals also joined the upward march. Spot platinum surged 9.3 per cent to $2,465.20 per ounce after touching an all-time high earlier in the session, while palladium rose 8.6 per cent to $1,942 per ounce, building on gains after hitting a three-year high in the previous session.
All major precious metals are on track for strong weekly gains, with platinum registering its best weekly performance on record. Analysts attribute the sharp rise in platinum and palladium — widely used in automotive catalytic converters — to tight supply conditions, tariff-related uncertainties and a shift in some investment demand away from gold.
So far this year, platinum prices have jumped by around 170 per cent, while palladium has gained more than 90 per cent, underscoring the strength of the ongoing rally across the precious metals complex. (Source: IANS)
