Gold and Silver Prices Skyrocket: Silver Hits 4 Lakhs, Gold Nears 1.75 Lakhs

• Gold prices have surged to nearly 1.75 lakh rupees per tola, while silver has reached 4 lakh rupees per kilogram on MCX.
• The American dollar's four-year low and stable interest rates by the US Federal Reserve have driven investors towards gold.
• Increased industrial demand is significantly contributing to the rise in silver prices.
• Global analysts predict gold prices could reach $5,700 to $6,000 per ounce by year-end, according to Societe Generale and Morgan Stanley.
• Investors are now opting for stock markets, ETFs, and mutual funds over physical gold and silver jewelry.

Why It Matters: Gold and silver prices have seen unprecedented hikes, making them unaffordable for many, driven by global economic shifts.