New Delhi, October 15 (Udaipur Kiran): Gold prices surged to an all-time high in the global market, crossing the $4,200 per ounce mark for the first time ever. After a sharp rise in early trade, the price of physical gold (spot gold) reached $4,209.66 per ounce, before easing slightly to $4,204.91 per ounce by 1:30 p.m. Indian time.
Similar momentum was seen in silver, which touched a record high of $53.54 per ounce during the day before correcting to $52.97 per ounce. A year ago, in October 2024, silver was trading at around $27.50 per ounce, marking nearly a 100% increase over the past year.
Experts attribute the rally to rising tensions between the U.S. and China over trade tariffs and expectations of further interest rate cuts by the U.S. Federal Reserve (Fed). These factors have led to a surge in demand for safe-haven assets such as gold and silver.
According to bullion market expert Mayank Mohan, Fed Chair Jerome Powell recently indicated another 0.25% rate cut in October, which pushed U.S. Treasury bond yields lower and strengthened demand for precious metals. Lower interest rates generally reduce returns on bonds, prompting investors to shift towards gold and silver for better value preservation.
Mohan further noted that besides geopolitical tensions and rate cut expectations, U.S. government shutdown concerns, rising Exchange-Traded Fund (ETF) inflows, and continued central bank gold purchases across major economies have provided additional support to gold prices.
Similarly, silver’s rally has been fueled by supply constraints and regulatory uncertainty. Rajeev Dutta, CEO of Capex Gold & Investments, said that the U.S. government’s move to review tariffs on key minerals such as silver, palladium, and platinum under Section 232 has created anxiety among traders. “If fears around Section 232 are not addressed soon, silver prices could climb to $70 per ounce by the end of this year,” he added.
Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.