Gold price soars to Rs 51,750 per 10 grams

New Delhi, Feb 24: After Russia declared war on Ukraine, the gold price in India hit a new high in the year as it crossed Rs 51 000-mark for 10 grams.

At 14.25 India time at the Multi Commodity Exchange (MCX), gold was trading at Rs 51,720 per 10 gram, which is Rs 1,341 or 2.66 per cent higher from its previous day's close.

Whereas Silver price surged by 3.03 per cent to Rs 66,540 per kg. Silver price hit a high of Rs 66,556 per kg in the intra-day at the Multi Commodity Exchange (MCX).

Coming to the international market, spot gold price surged by 1.9 per cent to $1,943.86 per ounce, the highest level since January 2021. US gold futures jumped by nearly 2 per cent to $1,949.20 per ounce.

The prices of the precious metal surged after the Russian troops launched their anticipated attack on Ukraine on Thursday, as President Vladimir Putin cast aside international condemnation and sanctions, warning other countries that any attempt to interfere would lead to "consequences you have never seen".

An adviser to Ukraine's president says about 40 people have been killed so far in the Russian attack on the country. Oleksii Arestovich, an adviser to President Volodymyr Zelenskyy said Thursday that several dozen people have been wounded. He didn't specify whether the casualties included civilians. Zelenskyy said the Ukrainian authorities will hand weapons to all those willing to defend the country.