Gold prices in India hit an all-time high on the Multi Commodity Exchange (MCX), touching Rs 96,747 per 10 grams, while silver prices rose to Rs 95,730 per kilogram. The surge was driven by a combination of factors including a depreciating US dollar, increasing tensions in the US-China trade relations, and worries regarding central bank autonomy. The global market also witnessed a significant increase in gold prices, exceeding $3,385 per ounce due to the prevailing financial instability worldwide.