Gold, Silver Prices Rise Again On 29th January: Check 22K, 24K Rates In Your City

Gold and silver prices have hit historic highs, with silver crossing ₹4 lakh and gold also setting a new record. The main reasons behind this unprecedented price hike are the weakness of the dollar and the demand for safe-haven investments

Precious Metal Inflation

Inflation for gold and silver has surged, shattering all records. Silver has made history, crossing ₹4 lakh, while gold is now out of reach for many. This historic rise has everyone wondering where prices will stop.

The whole game changed in 24 hours

The rapid rise of silver has stunned experts. On the MCX, it hit ₹4,07,456/kg. It needed just ₹15,000 to cross the ₹4 lakh mark, which it did in 24 hours after a massive two-day surge.

Gold is not far behind

It's not just silver; gold prices are soaring too. On the MCX, gold hit a new record of ₹1,75,869 per 10 grams. On Wednesday, 99.9% pure gold reached ₹1,71,000, a ₹5,000 increase.

Why are prices spiraling out of control?

Experts blame three key factors for this price 'tsunami.' A weak US dollar is a major driver, as investors shift from currency to metals for safety when the dollar falls.

Investing in Gold and Silver

Safe-Haven Demand: Amid global geopolitical tension and trade uncertainty, investors are flocking to gold and silver to protect their capital, seeing them as safer than stocks.

Interest rates to remain stable for now

Interest Rate Factor: The market is watching the US Fed. While rates are stable now, the possibility of future cuts is further boosting demand for both gold and silver.