Gold, silver futures hit fresh records  on Fed probe, geopolitical tensions

Key Highlights

• The yellow metal has climbed by Rs 3,058, or 2.25 per cent, over the past week.
• Silver futures also rallied, with the March contract surging by Rs 11,271, or 4.46 per cent, to reach a lifetime high of Rs 2,63,996 per kilogram.
• The white metal zoomed by Rs 16,409, or 6.94 per cent, last week.
• In the global markets, gold for February delivery on the Comex appreciated by USD 111.8, or 2.5 per cent, to hit a fresh peak of USD 4,612.7 per ounce, while silver for the March contract soared by USD 4.56, or 5.8 per cent, to touch a historic level of USD 83.90 per ounce.
• According to market experts, the rally in gold and silver prices was driven by deepening unease surrounding the Federal Reserve after the US Federal prosecutors launched a criminal investigation into Chair Powell over the central bank’s renovation of its Washington headquarters.