Gold hovered near a fresh record high on Thursday, while silver also touched a new peak on Wednesday, as softer US inflation data and elevated geopolitical tensions boosted safe haven demand among investors.&nbsp;
Considering the commodity market, <a href="https://www.mid-day.com/business/business-news/article/gold-prices-today-january-12-check-rates-in-mumbai-delhi-and-other-cities-23611625" rel="nofollow">MCX gold </a>February futures rose 0.53 per cent to Rs 1,42,995 per 10 grams around 10:05 am on Wednesday, while the gold price in Mumbai was recorded at Rs 1,42,680 for 10 grams.&nbsp;
While the reason for the sudden spike in gold prices is still not clear, analysts said the softer inflation print, coupled with mixed US jobs data, will lead the Fed to hold in January but likely undertake two to three cuts through the year, supporting gold prices, as reported by news agency IANS.
<h2 class="pf0">Gold prices in Mumbai</h2>
The global turmoil and tariffs imposed by the US are a few of the reasons speculated by the experts for the sudden surge in gold prices. While the demand for the metal continues to be stagnant, the price of gold in <a href="https://www.mid-day.com/business/business-news/article/gold-prices-today-january-9-check-rates-in-mumbai-delhi-and-other-cities-23611259" rel="nofollow">Mumbai for 24-carat gold</a> was recorded at Rs 1,42,680 for 10 grams, while the price of 22-carat gold was recorded at Rs 1,30,800
<h2 class="pf0">Gold prices in Delhi</h2>
Apart from the financial capital of India, prices of gold in the national capital on Thursday also experienced an all-time high, with prices crossing the Rs 1.4 lakh mark. The price of 24-carat gold in <a href="https://www.mid-day.com/business/business-news/article/gold-price-updates-check-out-prices-in-mumbai-and-delhi-23605311" rel="nofollow">Delhi </a>was recorded at Rs 1,42,820. Whereas, the price of 22-carat gold in Delhi was recorded at Rs 1,30,940 for 10 grams.&nbsp;
While commenting on the global uncertainties, Rahul Kalantri from Mehta Equities said, "Ongoing geopolitical and economic uncertainties continued to fuel safe-haven demand. Civil unrest in Iran and rising geopolitical tensions further supported buying interest in precious metals. Core CPI was below expectations of 0.3 per cent and remained steady on a year-on-year basis, reinforcing the view that underlying inflation pressures are easing."
Market watchers also pointed to rising geopolitical risks stemming from unrest in Iran and tensions involving Venezuela and Greenland as additional drivers of demand, as per IANS.
Experts further added that &ldquo;gold and silver prices are expected to remain volatile this week amid volatility in the dollar index, ahead of the US Supreme Court decision on tariffs,&rdquo; as per IANS.&nbsp;
(With inputs from IANS)

Gold prices hit a record near Rs 1.43 lakh per 10 grams as softer US inflation and geopolitical tensions fuel safe-haven demand. Silver also hits a new high

Gold hits fresh record near Rs 1.43 lakh as safe-haven demand rises amid global uncertainty

Rupee declines 10 paise to 90.44 against US dollar in early trade 

Gold prices hovered near a record high on Thursday, with MCX gold futures rising to Rs 1.42 lakh per 10 grams, driven by softer US inflation data and rising geopolitical tensions. Silver also touched a new peak, boosting safe-haven demand among investors

Gold price updates: Prices in Mumbai cross 1.4 lakh mark yet again

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