Hyderabad: Gold and silver prices extended their rally in the bullion market on Thursday, tracking strong international cues and rising safe-haven demand.
Global uncertainty pushed investors towards precious metals. As a result, demand rose sharply in overseas markets. International gold prices crossed the 4,900-dollar level per ounce, while silver traded close to 96 dollars.
The global surge quickly reflected in domestic markets, with bullion traders revising rates upward in line with international trends.
Gold and silver prices surge on global safe-haven demand
In the local bullion market, the price of 10 grams of 24-carat gold climbed to ₹1,59,000 by late Thursday night. Silver followed the same trend, with the price settling at ₹3,26,000 per kilogram.
Market participants linked the sharp rise to ongoing geopolitical tensions and fluctuations in the US dollar. These factors continued to strengthen demand for precious metals as defensive investments.
Traders noted that the prices may remain firm in the near term if global uncertainties persist. Strong international signals are expected to keep bullion markets volatile in the coming days.