Gold, Silver Prices Soar on Makar Sankranti Amid Global Tensions

• Gold and silver prices have reached historic highs on Makar Sankranti, making purchases expensive for consumers.
• In Delhi, 24-carat gold hit ₹1,42,690 per 10 grams, and silver touched ₹2,75,100 per kilogram on January 14.
• Mumbai saw 24-carat gold at ₹1,42,540 per tola and 22-carat gold at ₹1,30,660 per tola.
• Global market uncertainties, including US tariffs on Iran, potential military action, and the Russia-Ukraine conflict, are driving investors to gold as a safe haven.
• Instability in the American economy due to a criminal investigation against US Federal Reserve Chairman Jerome Powell and a weakening dollar also contribute to rising gold demand.

Why It Matters: Gold and silver prices are at record highs due to global geopolitical tensions and economic uncertainties.