The price of gold caught fire, at an all-time high!
There is an atmosphere of uncertainty in the global market amid US President Donald Trump's threats of imposing tariffs. On the very first day of the financial year 2026, gold reached an all-time high level. The futures price of gold is trading near Rs 91,400, while silver is trading at Rs 1,01,00.
The price of gold and silver is increasing rapidly
The price of gold with june contract on the Multi Commodity Exchange (MCX) opened today with a gain of Rs 599 at Rs 91,316. Its previous closing price was Rs 90,717. In the international market, the price of spot gold is trading near $ 3,145 an ounce, while the gold rate on Comex is trading at $ 3,174 an ounce.
Why did the price of gold gain momentum?
SS Wealthstreet founder Sugandha Sachdeva, while talking to The Mint on the rising prices of gold, said, the prices of gold have not increased suddenly, but there are many reasons behind it. The tension in the geopolitical environment, the continuous fall in interest rates, US President Donald Trump's threat of tariffs, the growing fear of inflation, are many such things that have increased the prices of gold. Anuj Gupta, Commodity and currency Head, hdfc Securities, said, people are moving towards safe investments amid the threat of trade war and the fear of its impact on economic growth. Apart from this, the central bank is also buying gold heavily and due to strong ETF flow, gold prices have also increased.
silver price also rises
On the other hand, if we talk about silver, its futures price also opened with a rise. The benchmark May contract of silver on MCX opened today with a rise of Rs 333 at Rs 1,00398. Whereas its previous closing price was Rs 1,00065. Today, the price of silver is trading at Rs 1,0,0945 with a rise of Rs 880. The futures price of silver has touched its record high level of Rs 1,01,999 per kg this year.
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