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

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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.

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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.

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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.

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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.

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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.

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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.