Gold, silver prices skyrocket in India: What experts say
Gold and silver just broke records in India this Monday, fueled by global trends.
With the US expected to cut interest rates, the dollar losing strength, and ongoing geopolitical tensions, gold shot past $3,750 an ounce worldwide (a new all-time high), while silver topped $44—its best in 14 years.
Here at home, gold futures on MCX nearly touched ₹1.12 lakh per 10gm and silver hit ₹1.33 lakh per kilo.
Gold's global surge and US rate cut impact
Experts say it's all about uncertainty—Colin Shah from Kama Jewelry points to global tensions making gold feel like a safe bet.
Avinash Gupta of the All India Gem & Jewellery Domestic Council adds that worries over US policies have central banks buying more gold than usual; he thinks prices could soon hit $3,900-$4,000 an ounce.
Saumil Gandhi at HDFC Securities notes that if the US cuts rates again, precious metals could stay pricey since dollars and bonds become less appealing by comparison.