Gold and Silver Prices Soar: What's Driving the Volatility and Where Are They Headed?

• Gold and silver prices are experiencing significant fluctuations globally, driven by international market uncertainty.
• Finance Minister Nirmala Sitharaman attributed the volatility to unstable global situations and reduced confidence in currencies, leading investors to gold as a safe haven.
• On Wednesday, February 4, MCX April gold contract rose 4% to 1,59,801 rupees per 10 grams, and March silver futures surged 5.5% to 2,82,816 rupees per kilogram.
• A new trade deal between the US and India, announced by President Trump, contributed to the recent price surge after a previous fall.
• Analysts predict silver could reach 3,41,773 rupees and gold could hit 1,67,000 rupees if key resistance levels are breached.