Gold, Silver Prices Soar: Silver Crosses Rs 3 Lakh, Gold Nears Rs 1.5 Lakh Mark

• Gold and silver prices have been continuously rising for two weeks, reaching record levels on Bhogi festival.
• 10 grams of 24-carat gold in Hyderabad increased by Rs 1,090 to Rs 1,43,620; 1 kg silver crossed Rs 3 lakh for the first time, now at Rs 3,07,000.
• International gold prices surged past $4,600 per ounce to $4,626.14, while silver hit $91.04 per ounce.
• Expectations of US Fed interest rate cuts due to lower inflation data and ongoing geopolitical tensions are driving the price rally.
• In India, gold prices are influenced by international rates, import duties, taxes, currency fluctuations, and its cultural significance as an investment.

Why It Matters: Gold and silver prices hit record highs driven by US interest rate cut expectations and geopolitical tensions.