Gold and Silver Prices Surge Amid Global Market Shifts

Global markets have experienced a shift with equities, treasuries, and crude oil prices dropping as the US dollar gains strength, while gold and silver prices hit new record highs. These increases are influenced by geopolitical tensions in the Middle East, US election uncertainties, and central banks easing monetary policies. In India, silver prices have crossed Rs 1 lakh per kg, impacting demand during festive periods and reflecting increased usage in the electric vehicle and photovoltaic sectors. Gold demand remains robust, driven by safe-haven demand, central bank purchases, and traditional purchases, despite the high prices. Analysts highlight inflation concerns and depreciating currencies as making precious metals more attractive investments. The trend for precious metal prices is expected to continue upward through the end of the year.