Gold Surges Past $4,500 for the First Time; Silver and Copper Hit Record Highs

Gold and silver prices continue their remarkable rally, reaching record levels not seen in decades. Gold has risen 70% this year, while silver has jumped nearly 140%, marking their best performance in years.

Record-Breaking Prices

In Asian markets, following global record-breaking trends, precious metals hit new highs. On the MCX, gold for the February 5 delivery opened at ₹1,38,166 per 10 grams, rising as high as ₹1,38,676 in early trading. By 11:00 AM, it was trading at ₹1,38,509, up ₹624 (0.45%).

Silver for March 5 delivery surged by ₹3,651, trading at ₹2,23,304, reaching an intraday high of ₹2,23,887. Meanwhile, copper prices crossed $12,000 per ton for the first time.

International Impact

Globally, gold touched $4,500 per ounce, a historic first. Silver also reached an all-time high, driven by heightened demand for safe-haven assets after recent sanctions on oil tankers connected to Venezuela by the United States. Copper’s record rally further underscores strong commodity market trends this year.

Market Trends

The strong performance reflects increased investor interest in safe-haven metals amid global uncertainties. Analysts note that these gains mark decades-high returns for gold and silver, making them attractive for both retail and institutional investors.

With these historic movements, precious and base metals are signaling strong momentum, offering both opportunities and caution for investors tracking the commodity markets.