Gold and Silver Prices Hit Record Highs Amid Global Economic Uncertainty

Market experts are pointing to risk-averse investment strategies and global economic uncertainty as the primary drivers behind the recent surge in precious metals. Gold October futures on MCX reached an unprecedented peak of Rs 1,02,191 per 10 grams, while silver September futures also showed strength, climbing to Rs 1,14,900 per kilogram.

The upward trend is further fueled by concerns over US trade tariffs and strategic acquisitions by central banks worldwide, including the People's Bank of China, which has continued its gold accumulation strategy for the ninth consecutive month.

Expert Analysis and Future Outlook

According to Manoj Kumar Jain of Prithvifinmart Commodity Research, gold has crossed its resistance level, with potential to reach new heights if prices sustain above current levels. Similarly, silver has surpassed its resistance, indicating possible gains in the near future.

"We expect gold and silver prices to remain volatile amid US tariff uncertainty and dollar index fluctuations," Jain added, suggesting a trading range for both metals in the upcoming sessions.

Trading Strategies for Precious Metals

For those looking to invest, crucial support and resistance levels have been identified for both gold and silver on MCX. Experts recommend specific strategies, including initiating purchases when prices exceed certain thresholds, to capitalize on the current market trends.

Disclaimer: The recommendations and views expressed by experts are their own and do not represent the views of The Times of India.