Mumbai: Gold and silver prices hit record levels in international and domestic markets on Tuesday amid uncertain political and economic environment, dollar weakness and rising industrial demand for silver.Gold crossed the Rs 1.5 lakh per 10 gram level for the first time, while silver is trading above the Rs 3 lakh per kg level, its highest ever level in the domestic markets. In global markets, on the New York Commodity Exchange, gold breached the $4,700/ounce (ounce) level for the first time, while silver traded above the $95 level and near $100/ounce.“Bullion prices are entirely driven by US President Donald Trump’s threats on Greenland,” said Avinash Gupta, vice-president of the All India Gem and Jewelery Domestic Council. US Treasury Secretary Scott Besant said the new Fed chief could be announced as early as next week. “If this happens, interest rates may fall, which will lead to further rise in gold and silver prices,” Gupta said.
