Gold Hits Record High Amid Trade War Fears; Safe-Haven Demand Soars

• Gold prices on MCX reached new record highs on Tuesday, January 20, driven by increased safe-haven demand.
• Global trade war fears and a weakening US dollar are supporting the surge in gold and silver prices.
• MCX Gold February futures traded at ₹147,904 per 10 grams, up 1.60%, while silver March futures rose 2.41% to ₹317,742 per kilogram.
• International gold prices also hit record highs, with US gold futures up 2% to $4,681 per ounce and Comex silver reaching $94.740 per ounce.
• Manoj Kumar Jain of Prithvi Finmart recommends buying MCX Gold February contract at ₹142,800 (target ₹146,600, stop-loss ₹144,000) and MCX Zinc January contract at ₹313 (target ₹318, stop-loss ₹310).

Why It Matters: Gold and silver prices surged to record highs due to escalating trade war fears and safe-haven demand.