Gold, Silver Soar: New Year Shocks Buyers as Prices Skyrocket Amid Geopolitical Tensions

• Gold and silver prices are continuously rising in the new year, delivering an unexpected shock to buyers expecting a decrease.
• In Hyderabad, 24-carat gold rose by Rs 1,580 to Rs 1,37,400, and 22-carat gold by Rs 1,450 to Rs 1,25,950 per 10 grams on January 5.
• Silver prices surged by a whopping Rs 8,000 per kilogram today, reaching Rs 2,65,000, with one tola available for Rs 2,650.
• International gold crossed $4400/ounce, and silver $75/ounce, driven by the recent US military attack on Venezuela.
• Analysts predict further price hikes due to geopolitical tensions, industrial demand, and expectations of US rate cuts, boosting safe-haven demand.

Why It Matters: Gold and silver prices are surging in the new year, fueled by geopolitical tensions and investor demand.