Gold Nears Rs 1.4 Lakh; Silver Hits Record As Safe-Haven Rush Intensifies

Precious metals unleashed a powerful rally on Friday, with gold charging toward the ₹1.4 lakh mark and silver vaulting to an all-time high, as investors worldwide intensified their flight to safety amid geopolitical uncertainty and growing bets on US interest rate cuts.

The surge reflects a dramatic shift in global risk appetite, with bullion once again emerging as the ultimate refuge in turbulent times.

On the Multi Commodity Exchange (MCX), gold futures for February delivery climbed another one per cent to a fresh lifetime high of ₹1,39,550 per 10 grams, extending a four-session winning streak.

The yellow metal has posted record highs on four consecutive days, underlining relentless buying momentum.

Analysts note that gold has already risen nearly 10 per cent this month and has delivered a staggering 81 per cent gain so far in 2025, cementing its status as the year’s standout asset.

Silver mirrored gold’s explosive run but with even sharper intensity. March silver futures on MCX jumped ₹11,457 per kilogram, a surge of over five per cent, to touch an unprecedented ₹2,35,247 per kg.

With this leap, silver’s gains in 2025 have climbed to an extraordinary 167 per cent, driven by both safe-haven demand and strong industrial consumption expectations.

Global markets echoed the domestic frenzy. Spot gold surged to a record $4,530.60 per ounce, while spot silver breached the $75-per-ounce threshold for the first time, settling at $75.64.

The rally highlighted deepening investor anxiety over geopolitical flashpoints and slowing global growth signals, prompting aggressive repositioning into hard assets.

Platinum and Palladium Join the Surge

The bullish wave extended beyond gold and silver. Platinum spiked 9.3 per cent to $2,465.20 per ounce, after hitting an all-time high earlier in the session.

Palladium advanced 8.6 per cent to $1,942 per ounce, building on a three-year peak recorded in the previous session.

All four major precious metals now stand poised for strong weekly gains, with platinum marking its sharpest weekly rise on record.

Market experts attribute the explosive move in platinum and palladium to tight global supply, tariff-related uncertainty, and shifting investor allocations away from gold.

Since both metals play a critical role in automotive catalytic converters, supply disruptions and demand recalibration have amplified price pressures.

So far in 2025, platinum prices have soared nearly 170 per cent, while palladium has rallied over 90 per cent, underscoring a broad-based commodities super-cycle narrative.

With central banks signalling policy easing and geopolitical risks refusing to fade, analysts expect volatility to persist.

For now, bullion continues to dominate the financial conversation, sending a clear message: when uncertainty rises, metals shine brightest.

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