Gold Prices Challenge Record Highs; Silver Tops Rs. 73,000/kg

Gold prices amid ongoing Ukraine-Russia crisis are relentlessly zooming and in retail markets have even scaled very close to Rs. 55000 per 10 gm. And the current spurt is seen to continue in the near to mid term. Also, yesterday Goldman Sachs-the US investment bank upped its gold price targets.

Gold price in international markets

US has imposed a ban on Russian oil imports owing to the Ukraine invasion and there are also reported incidents of fresh attacks by Russia on the port of Maruipol. So, with the tensions still not reaching a ceasefire stage, in the spot market gold prices have hit an intra-day high of $2071.70 per ounce. While on the Comex gold futures notched highs of $2078.8 per ounce.

Gold prices on March 9, 2022

In the futures market, gold April futures have climbed by 1.43% or Rs. 776 and at day's high scaled a price of Rs. 55144. Likewise, silver, which internationally hit eight month high jumped by over 2% to top Rs. 73,046 at day's high.