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News Topical, Digital Desk : Gold once again made history. In the international market, gold crossed $4,500 (about Rs 4,03,847) per ounce (28.34 grams) for the first time. In Indian rupees, this price has reached Rs 1,42,500 (gold price hike) per 10 grams. Spot gold rose by about 0.11% to reach $4,510.60 per ounce, while the record level was $4,555.
The main reason for this surge is the increasing geopolitical tension regarding Venezuela and the expectation of further reduction in interest rates in America. The blockade of Venezuelan oil tankers by America, increased military activities in the Caribbean region and strict warnings from President Donald Trump have turned investors towards safe investment i.e. gold.
Additionally, the market expects the US Federal Reserve to cut interest rates further next year. Lower interest rates are considered beneficial for non-interest-bearing assets such as gold.
What are the latest gold and silver rates on MCX? (gold silver rate mcx)
On the Multi Commodity Exchange (MCX), gold with February 5, 2026 expiry rose by 0.39 percent till 2.15 pm on Wednesday, December 24, and became costlier by Rs 532 compared to the previous day. At the time of writing this news, it was trading at Rs 1,38,417. During this period, gold touched a high of Rs 1,38,676 (gold rate today) and remained at a low level of Rs 1,38,085. During the previous trading session, it had closed at Rs 1,37,885.
Speaking of silver, it once again reached its all-time high. Silver gained 1.42 percent, rising by ₹3,110 to ₹2,22,763 per kilogram (silver rate today). Its all-time high was ₹2,24,300, while its low was ₹2,21,000. The previous day, it had closed at ₹2,19,653.
Record rise in gold and silver (gold silver price hike)
Gold has risen more than 70% so far this year, while silver has gained a staggering 150%. Both metals are on track for their best annual performance since 1979. Continued purchases by central banks and strong investment in gold ETFs are key drivers. According to the World Gold Council, investment in gold-backed ETFs has increased every month this year except May.
Is there still momentum left?
John Feeney of Guardian Vaults says, "Physical demand for both gold and silver is strong, and sensitivity to macro risks has increased. This rally is based on confidence, not speculation." Gold has recovered sharply after a slight decline from $4,381 in October, suggesting further strength ahead.
What is Goldman Sachs's estimate?
According to Goldman Sachs, several major banks, including Goldman Sachs, believe gold could rise further by 2026. Goldman's base-case estimate is $4,900 per ounce, with upside risks remaining.
Silver and platinum also on record
Silver surpassed $70 for the first time, hitting a record high of $72.70. Platinum rose above $2,300, its highest level since 1987.
Investment opportunity or caution?
Gold remains a safe bet for long-term investors, especially amid uncertain global conditions. However, short-term volatility is possible at such high levels, so a phased investment may be a safer strategy.
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