NEW DELHI: Gold and silver prices surged to record highs on Thursday, amid a rise in geopolitical tensions following US President Donald Trump's threat of military action against Iran.
Strong buying demand, driven by central bank purchases and further weakening of the US dollar, also fuelled the rally.
MCX gold February futures rose 5.99 per cent to Rs 1, 75, 885 per 10 grams around 10.45 am. Meanwhile, MCX silver March futures rose 4.24 per cent to Rs 4, 01, 699 per kg.
International markets saw silver hovering around the $120-per-ounce mark, after a more than 60 per cent surge this year, supported by persistent supply constraints.