Gold prices in India have skyrocketed to a stunning new high, crossing the Rs 1,10,000 per 10 grams mark on Tuesday. This surge comes as investors flock to gold as a safe-haven asset amid rising global geopolitical tensions and buzz around a potential US Federal Reserve rate cut this week.
By 10:17 am, 24-carat gold hit Rs 10,951 per gram, based on fresh data from the India Bullion and Jewellers Association (IBJA). Earlier today, prices touched Rs 1,10,650 per 10 grams, up from Monday’s close of Rs 1,09,820. On the global front, spot gold traded at $3,679 per ounce, just shy of Monday’s all-time high of $3,685, according to the World Gold Council.
Market experts point to escalating geopolitical risks in international trade and strong expectations for a US Fed rate cut on September 17 as key drivers behind this gold price rally. With the dollar weakening too, they predict gold and silver will keep shining positively throughout the week.
Across Indian cities, gold prices varied slightly: Rs 1,10,260 per 10 grams in New Delhi, Rs 1,10,450 in Mumbai, Rs 1,10,540 in Bengaluru, Rs 1,10,310 in Kolkata, and the highest at Rs 1,10,770 in Chennai.
Silver isn’t lagging behind either. October futures on the Multi Commodity Exchange (MCX) climbed to Rs 1,29,452 per kg. Analysts also highlight growing industrial demand for silver from electric vehicles (EVs) and solar panels fueling this rise. Markets now see a 96.4% chance of a 25-basis-point rate cut at the Fed meeting.
In other gold market news, India’s gold exchange-traded funds (ETFs) pulled in $233 million in net inflows during August 2025—a massive 67% jump from July’s $139 million, per World Gold Council figures. Plus, the latest inflation data shows gold’s 40% year-on-year price hike pushed core inflation up by about 43 basis points in the CPI.
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