Gold Price Shock: Rs. 5,000 Hike in a Single Day, Historic Record Set

• Gold prices surged by Rs. 5,020 per 10 grams for 24-carat gold in Hyderabad on January 21, marking a single-day record.
• The price of 10 grams of gold has increased by Rs. 10,000 in 3 days and nearly Rs. 20,000 in January alone.
• Silver prices also saw a significant jump, increasing by Rs. 20,000 in two days, reaching a new all-time high of Rs. 3,40,000 per 100 grams.
• Global gold prices crossed $4800 per ounce for the first time, currently trading around $4854, while silver is near $94.25 per ounce.
• Rising geopolitical tensions, including US President Trump's actions regarding Greenland and NATO, and a weakening dollar are driving investors towards gold as a safe-haven asset.

Why It Matters: Gold and silver prices hit historic highs due to geopolitical tensions and increased safe-haven demand.