Gold, Silver Soar to Record Highs Amid Rate Cut Hopes & Safe-Haven Demand

• Gold and silver prices reached fresh all-time highs on December 29, driven by safe-haven demand and anticipated US interest rate cuts.
• 24-carat gold hit Rs 1,41,360 per 10 grams in Mumbai, while silver surged past Rs 2.5 lakh per kg in the spot market.
• International gold prices rose to $4,515.6 per ounce, with silver touching a lifetime high of $80.77 per ounce on Comex.
• Analysts forecast silver to reach Rs 2,75,000 per kg on MCX due to strong industrial demand and global supply constraints, including China's export restrictions.
• Gold has surged over 70% this year, and silver more than 150%, fueled by rate cut expectations, central bank buying, and de-dollarisation trends.

Why It Matters: Gold and silver hit unprecedented highs, propelled by global economic factors and strong demand.