The bullion market in Delhi has witnessed a historic surge in gold and silver prices, driven by strong domestic demand and global economic uncertainty.
Latest Gold & Silver Prices
On Friday, 24K (99.9% purity) gold climbed ₹800 to touch ₹1,03,420 per 10 grams — just a day after a steep ₹3,600 rise on Thursday. In the last five trading sessions, gold prices have soared by nearly ₹5,800 per 10 grams.
Meanwhile, 99.5% pure gold is hovering close to ₹1,03,000.
Silver has also joined the rally, jumping ₹1,000 to ₹1,15,000 per kg (inclusive of all taxes). Over the past week, silver has gained ₹5,500 per kg.
Quick Price Comparison
| Metal & Purity | Price (₹) | Change in 5 Days |
|---|---|---|
| Gold 24K (99.9%) | 1,03,420 / 10 g | +5,800 |
| Gold 99.5% | ~1,03,000 / 10 g | +5,800 approx. |
| Silver (per kg) | 1,15,000 | +5,500 |
Why Prices Are Rising
1. Heavy Domestic Demand
The All India Sarafa Association notes that large-scale purchases by jewellers and investors have fueled prices.
2. Global Supply Disruptions
The US recently imposed a 39% tariff on gold imports from Switzerland, a global gold refining hub. This has disrupted the supply chain and pushed investors towards gold as a safe investment.
3. India–US Trade Uncertainty
Trade negotiations between India and the US remain unresolved, adding to market volatility and boosting gold’s appeal.
4. US Interest Rate Cut Expectations
Lower expected interest rates in the US make non-interest-bearing assets like gold more attractive.
Market Performance
- Domestic Futures: On the MCX, gold for October delivery rose ₹782 to ₹1,02,250 per 10 grams, while December contracts increased ₹849 to ₹1,03,195.
- Global Market: Spot gold in New York reached $3,500.33 an ounce, with spot silver trading at $38.28 an ounce.
FAQs on Current Gold Prices
Q1: Is now a good time to buy gold?
If you are buying for long-term investment or personal use, experts suggest gradual purchases to average out the cost.
Q2: Will gold prices rise further?
Market analysts believe prices could see more fluctuations due to global trade tensions and interest rate decisions.
Q3: Why is silver also rising sharply?
Industrial demand, along with its role as a store of value, is contributing to the surge in silver prices.