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Gold Silver Price Surge: A decline in gold prices was seen in the global market due to the pressure of strong dollar and profit booking. However, despite this, gold is moving towards its biggest monthly gain since 1980. Amidst geopolitical tensions and economic uncertainties, investors are considering it as a safe investment.

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According to Reuters, spot gold in the global market fell 0.9 percent to $ 5,346.42 an ounce. Earlier, gold had fallen by 4.6 percent and slipped to $ 5,149.99 an ounce. Later recovery was seen. A day ago, gold had reached a record level of $ 5,594.82 per ounce.

So far in the month of January, gold prices have increased by more than 24 percent. This is the sixth consecutive month when gold is on the rise. US gold futures for February delivery rose 1.3 per cent to $5,390.80 an ounce.

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silver prices

In the global market, spot silver fell 0.2 percent to $ 115.83 an ounce. Earlier, silver had fallen by 6.6 percent to $ 108.84 an ounce. Recently, silver had also reached a record high of $ 121.64 per ounce. So far this month, an increase of about 62 percent has been recorded in silver. This is considered to be its best monthly performance till date.

increasing geopolitical tensions

US President Donald Trump indicated on Thursday that there could be a possibility of another war in the future. This is being linked to the increasing tension between America and Iran. Trump said that he has resolved eight wars so far and he hopes that the upcoming situation will also be handled soon.

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where might gold go next

Analysts expect further rise in gold prices. UBS has increased the gold target for March, June and September 2026 to $ 6,200 an ounce, which was earlier $ 5,000.

Societe Generale estimates that gold could reach $6,000 an ounce by the end of the year. Morgan Stanley says that if the bullish environment continues, gold can go up to $ 5,700 per ounce.

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