Precious metals markets witnessed unprecedented rallies as escalating trade tensions and geopolitical uncertainties drove investors toward safe-haven assets. Gold and silver futures on the Multi Commodity Exchange (MCX) reached new historic peaks, with both metals extending their winning streaks amid growing concerns over potential trade wars.

Gold Crosses ₹1.50 Lakh Milestone

February gold futures opened higher at ₹1,45,775 per 10 grams, up from the previous close of ₹1,45,639. The precious metal surged to a record high of ₹1,52,500, marking a significant gain of ₹6,861 and crossing the psychologically important ₹1.50 lakh level for the first time.

Silver Delivers Spectacular 36% Monthly Returns

Silver March delivery futures demonstrated even more dramatic gains, rallying ₹17,723 to register a historic peak of ₹3,27,998. This surge followed Monday's impressive gain of ₹22,153 per kilogram, bringing the month-to-date returns to an exceptional 36%.

The white metal's journey from ₹2 lakh to ₹3 lakh occurred in just 25 trading sessions, showcasing unprecedented momentum. Silver had crossed ₹1 lakh in October 2024, taking 14 months to reach ₹2 lakh on December 12, 2025, but the next ₹1 lakh jump was achieved in record time.

Trump's Tariff Threats Fuel Market Volatility

The precious metals rally coincided with escalating trade tensions following Trump's latest tariff announcements. The US President threatened 200% tariffs on French wine and champagne after France's President Emmanuel Macron reportedly refused to join his "Board of Peace" on Gaza.

Trump's broader tariff threats target European allies until the US is allowed to acquire Greenland, prompting EU leaders to schedule an emergency summit in Brussels. European states are reportedly discussing counter-tariffs and punitive economic actions in response to these announcements.

Market Outlook and Technical Analysis

Analysts remain optimistic about the precious metals rally's sustainability. Ponmudi R, CEO of Enrich Money, highlighted silver's bullish momentum, stating that sustained trade above ₹3,10,000 maintains extremely positive sentiment.

The combination of strong investment inflows, rising industrial demand for silver, and heightened geopolitical tensions continues to support precious metals prices. Both gold and silver are benefiting from their traditional role as safe-haven assets during periods of economic and political uncertainty.

Spot gold has reached a new record high, climbing to $4,748.09 per ounce with a 1.6% gain. This achievement marks another significant milestone in the precious metal's continued upward trajectory, setting a fresh benchmark for gold prices in the global market.

Record-Breaking Performance

The latest price movement represents a notable achievement for gold, as it surpasses previous highs to establish new territory for the precious metal. The 1.6% increase demonstrates the ongoing strength and momentum in gold pricing.

Market Significance

This record high reinforces gold's position as a key commodity in global markets. The achievement of $4,748.09 per ounce represents the culmination of recent price appreciation trends that have driven the precious metal to unprecedented levels.

The 1.6% gain contributing to this record demonstrates the active trading interest and positive sentiment surrounding gold in current market conditions. This milestone adds to the series of achievements that have characterized gold's recent performance trajectory.