Gold prices surge over Rs 6,000, silver soars Rs 10,000 in 30 days amid global uncertainties
Gold Prices Have Risen Sharpely in India Over the Last Month
In the past 30 days, gold prices in India have surged by over Rs 6,000 per 10 grams. This increase is driven by global tensions and economic uncertainties, including worries about US tariffs, ongoing conflicts in Ukraine and Gaza, and currency market fluctuations.
On September 8, gold futures for October delivery hit a record high of Rs 1,07,740 per 10 grams on the Multi-Commodity Exchange (MCX). That’s nearly Rs 6,500 more than just a month ago. Retail gold prices also climbed, with 24-karat gold settling at Rs 1,06,338 per 10 grams — up Rs 6,262 from Rs 1,00,076 on August 5, according to the Indian Bullion and Jewellers Association (IBJA).
This week alone, gold prices increased by Rs 1,845 for 24-carat gold. Since August 18, the price has gone up by Rs 6,715 per 10 grams. The rising trend shows how global uncertainty and market demand continue to push gold prices higher.
Silver has also reached new heights. On September 4, silver hit Rs 1,23,207 per kilogram — its highest level so far. Although it slightly declined by over Rs 100 on the latest trading day, closing at Rs 1,23,170 per 10 grams, silver’s overall price has increased by Rs 10,748 per kilogram since August 5.
Throughout the week, silver stayed relatively steady, climbing Rs 370 from Rs 1,22,800 on September 1. Both gold and silver are hitting all-time highs, reflecting strong buying interest and ongoing economic concerns.
According to IBJA, on September 4 evening, the price of 24-carat gold rose again from Rs 1,04,424 on Tuesday to Rs 1,06,021 per 10 grams — a daily increase of Rs 1,597. Despite some profit-taking before key US employment data, gold and silver continue to climb, supported by central bank demand and global instability.
Market analysts say that rising geopolitical tensions and economic uncertainties remain key reasons behind the strengthening of gold and silver in India. As uncertain global situations persist, both metals are seen as safe investments, attracting more buyers.
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