Gold And Silver Prices Hit Record Highs Amid Global Uncertainty

Gold and silver prices surged to fresh all-time highs on Wednesday, extending their upward momentum in both domestic and international markets.

According to the India Bullion and Jewellers Association (IBJA), 24-carat gold reached Rs 1,06,021 per 10 grams in evening trade, up Rs 1,597 from Tuesday’s Rs 1,04,424.

The 22-carat gold price climbed to Rs 97,115 per 10 grams, compared to Rs 95,652 earlier, while 18-carat gold rose to Rs 79,516 per 10 grams from Rs 78,318. Silver also gained, rising to Rs 1,23,220 per kilogram, an increase of Rs 387 from the previous session. IBJA updates these rates twice daily, in the morning and evening.

Rally Spreads to Futures Market

The rally in gold and silver extended to the futures market. On the Multi Commodity Exchange (MCX), gold for October 3, 2025, delivery rose 0.62 per cent to Rs 1,06,447. Silver for December 5, 2025 delivery advanced 0.27 per cent to Rs 1,24,863.

Global markets echoed the trend. On Comex, gold rose 0.63 per cent to $3,615.00 per ounce, while silver climbed 0.41 per cent to $41.240 per ounce.

Analysts said the momentum is linked to structural changes in global central banks’ foreign exchange reserves rather than speculative spikes.

NS Ramaswamy, Head of Commodity Desk and CRM at Ventura, said gold is strengthening as confidence in the US dollar weakens.

Expectations of a Federal Reserve interest rate cut this month and uncertainty around US President Donald Trump’s tariff policies have fuelled demand for safe-haven assets.

“Gold extends beyond being only a hedge against inflation. In this hot rally, profit booking will not come soon. We expect futures to move in the $3600–$3680 range, with dips holding around $3450–$3500,” Ramaswamy explained.

Persistent global fiscal concerns and tariff disputes are keeping investors cautious, but continue to push gold and silver prices higher.

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