Gold and silver prices surged this week, with gold climbing by over ₹400 and silver soaring by more than ₹2,700 per kilogram.
As per the India Bullion and Jewellers Association (IBJA), the price of 24-carat gold rose to ₹97,511 per 10 grams. This marked a ₹490 jump from last week’s ₹97,021.
The previous week had already seen a ₹1,237 rise in gold. The price of 22-carat gold increased to ₹89,320, up from ₹88,871.
The 18-carat gold rate also saw a rise. It moved from ₹72,766 to ₹73,133 per 10 grams over the same period.
Silver witnessed a sharp spike. Its price jumped by ₹2,710, touching ₹1,10,290 per kilogram, compared to ₹1,07,580 a week earlier.
This is the first time silver has closed above ₹1.10 lakh per kg on a weekly basis. Prices now hover close to record highs. The previous highest closing was ₹1,09,550 per kg, recorded on 18 June this year.
Analysts attribute the surge in gold and silver prices to global market uncertainty.
US President Donald Trump’s recent tariff announcement on Canada, Europe, and other trade partners has sparked tension.
Precious metals like gold and silver often act as safe-haven assets. Demand tends to rise during times of economic and political instability. Limited supply further pushes up the prices.
Since 1 January this year, 24-carat gold has risen by ₹21,349 or 28.03%, from ₹76,162 to ₹97,511 per 10 grams. Silver has increased by ₹24,273 or 28.21%, moving from ₹86,017 to ₹1,10,290 per kilogram.
Also Read: Market Outlook: Earnings, Inflation Data & Global Trends To Steer Indian Equities This Week
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