New Delhi: In the domestic futures market, MCX Gold for December 5 expiry touched a fresh high of Rs 78,240 per 10 grams. Similarly, MCX Silver for December 5 expiry hit a new peak of Rs 98,224 per kilogram during the morning session on October 21. The sharp rise in prices comes amid escalating tensions in West Asia and uncertainty surrounding the 2024 U.S. elections.

Spot Gold And Silver PricesSpot gold hit a new record high of $2,725.81 per ounce. Silver surged to its highest level in nearly 12 years, supported by safe-haven demand. How Is Gold Performing In Global Market?International markets also saw significant movement in precious metals: What’s Driving The Rally In Gold And Silver?Several factors are pushing precious metals to new highs including: Geopolitical tensionsOngoing conflicts in West Asia have increased demand for safe-haven assets like gold and silver. Macroeconomic uncertaintyConcerns about the global economy are driving investors to seek safer investment options. Dollar Index And Interest RatesA weaker dollar and possible interest rate cuts are also fueling the rally in precious metals.