Gold and Sliver Rate Today: Gold Price Tops Rs. 1.80 Lakh, Sliver Crosses Rs. 4 Lakh Mark on MCX

Gold and silver prices have been increasing in the last few days and now silver surges by crossing the Rs. 4 lakh mark. Gold price has topped Rs. 1.80 lakh per 10 grams on the MCX, according to the reports. On the Multi Commodity Exchange (MCX), the price of silver futures for March delivery increased Rs. 22,090 or 5.73%, to a record high of Rs. 4,07,456 per kilogram.

Gold prices continued to climb for a third straight session, surpassing the Rs. 1.80 lakh barrier for the first time, with February futures on the MCX up another 9% to a new record high of Rs. 1,80,799 per 10 grams. As a consequence of the surge so far in January, prices have risen by 31%.

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On the worldwide market, gold futures on the Comex broke through the critical 5,600 USD per ounce barrier for the first time.  In the foreign markets, Comex silver futures also increased dramatically, reaching a new record high of 119.51 USD per ounce.

Persistent geopolitical instability explains why precious metals continue to be attractive as safe-haven investments, as seen by the continuous increase. Today, Jan 29, the price of gold for the February contract on the MCX increased by almost 8.8% or Rs 14,586, to hit a record high of Rs. 1,80,501, as per the media reports. The metal broke through the psychological barrier of Rs. 4 lakh for the first time, reaching a record high of Rs. 4,07,456 earlier in the day, as mentioned above.