Gold, Silver Prices Soar in New Year: Rs 5,000 Gold, Rs 25,000 Silver Jump

• Gold and silver rates continue to surge in the New Year; gold up Rs 5,000 per tola and silver up Rs 25,000 per kg in the last seven days.
• In Hyderabad on January 7, 24-carat gold rose by Rs 660 to Rs 1,39,480, and 22-carat gold by Rs 600 to Rs 1,27,850.
• Silver prices in Hyderabad saw a massive Rs 12,000 increase per kg, reaching Rs 2,83,000; international silver nears $80/ounce.
• Global factors like a strengthening dollar, US interest rate expectations, and political developments (US-Venezuela agreement) are influencing gold prices.
• Despite domestic futures market dips due to profit-taking, experts advise buying gold on price falls, focusing on support and resistance levels.

Why It Matters: Gold and silver prices are significantly rising in the new year, driven by global economic and political factors.