Fri Jan 31 22:40:00 UTC 2025: ## Gold Prices Soar to Record High Amidst Global Uncertainty
**Mumbai, India – January 31, 2025** – Gold prices reached an all-time high today, fueled by investor demand for safe-haven assets in the face of economic uncertainty. The precious metal surged to USD 2,859 per ounce (a 37% increase year-over-year), while on the Multi Commodity Exchange of India (MCX), April gold futures contracts hit a record Rs 83,357 per 10 grams. Silver also saw gains, with March futures contracts trading at Rs 93,631 per kg.
The surge follows a recent drop in US Treasury bond yields and anxieties surrounding potential trade policy shifts. Both gold and silver closed strong in domestic and international markets on Friday, with gains of 1.45% and 1.72% respectively.
Local gold prices varied slightly across major Indian cities today. 24-karat gold prices ranged from Rs 84,330 to Rs 84,480 per 10 grams in Mumbai, Kolkata, Chennai, Delhi and Lucknow. Silver prices were largely consistent, hovering around Rs 99,500 per kg in most cities, except Chennai which saw a higher price of Rs 107,000 per kg. The rising prices highlight the increasing appeal of precious metals as a hedge against economic instability.
First Piper 