Hyderabad: Gold and silver prices surged again on Monday as fresh geopolitical tensions pushed investors back toward safe haven assets.
After profit booking last week, renewed instability linked to developments in the United States and Venezuela lifted global commodity markets. As a result, prices of gold, silver, copper, and other commodities rallied sharply.
In Delhi, the price of pure gold closed at Rs 1,37,990 per 10 grams by evening. In Hyderabad, pure gold rose by Rs 2,400 to Rs 1,38,825 per 10 grams, according to the All India Sarafa Association. Meanwhile, 22 carat gold used for jewellery gained Rs 2,200 to settle at Rs 1,27,164 per 10 grams.
Silver also recorded a sharp jump. Prices climbed by Rs 7,000 per kilogram to reach Rs 2,48,000 in the Hyderabad market.
Gold and silver prices surge on safe haven demand
Global markets mirrored the domestic trend, with spot gold crossing the 4,400 mark. Analysts said rising geopolitical uncertainty revived demand for precious metals.
Last week, traders booked heavy profits in gold and silver, causing prices to fall by over four percent. However, investor sentiment shifted after geopolitical tensions intensified following recent developments in Venezuela.
Market experts noted that during periods of international instability, investors typically move funds into commodities such as gold. They added that the current geopolitical climate could continue to support elevated gold and silver prices in the near term.
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