Gold and Silver Prices Reach New Heights Ahead of Festive Season
Gold and silver prices in India soared to new record levels on Wednesday, keeping up their upward trend both locally and globally.
According to the India Bullion and Jewellers Association (IBJA), the latest evening rates show 24-carat gold now costs Rs 1,06,021 for 10 grams. This is a big jump from Rs 1,04,424 on Tuesday, marking a gain of Rs 1,597 in just one day.
Similarly, 22-carat gold has gone up to Rs 97,115 per 10 grams from Rs 95,652, and 18-carat gold now costs Rs 79,516, up from Rs 78,318. Silver prices also increased, reaching Rs 1,23,220 per kilogram — up Rs 387 from the previous day’s Rs 1,22,833. These gold and silver rates are updated twice daily by IBJA, once in the morning and once in the evening.
The rally isn’t limited to physical gold and silver. Gold futures on the Multi Commodity Exchange (MCX) for October 2025 delivery jumped 0.62% to Rs 1,06,447, and silver futures for December 2025 delivery rose 0.27% to Rs 1,24,863.
International markets also show strong gains. On the Comex exchange, gold prices increased 0.63% to $3,615 per ounce, while silver gained 0.41% to $41.24 per ounce.
Experts say the surge isn’t just a speculative jump. It’s driven by bigger global economic shifts, especially the changing strategies of central banks in managing their foreign exchange reserves.
“Gold is no longer just a safe haven against inflation,” explains NS Ramaswamy, Head of Commodity Desk at Ventura. “With the US Federal Reserve possibly cutting interest rates soon, even with inflation still high, investor interest in gold is rising. Uncertainty about US trade policies and currency markets is also pushing gold prices higher.”
As confidence in the US dollar weakens, more investors are turning to gold and other safe assets, especially amid concerns over global economic health and trade tensions.
Ramaswamy adds, “In this strong rally, it’s unlikely we’ll see quick profit bookings. Gold futures could keep rising to between $3,600 and $3,680. Buyers can consider dips around $3,450 to $3,500 — which are still relatively high — as opportunities to buy.”
With festive seasons approaching in India, higher gold prices might influence jewelry buying decisions, but demand remains strong. Keep an eye on international trends and policy developments for future price movements.
Stay tuned for more updates on gold and silver prices, and how global economic factors are impacting the precious metals market.
