Gold and silver prices have skyrocketed this week in India, with 24-carat gold hitting a whopping Rs 1.06 lakh per 10 grams and silver crossing Rs 1.23 lakh per kilogram. This surge is turning heads among investors and buyers alike, driven by global jitters and smart market moves.
According to the India Bullion and Jewellers Association (IBJA), 24-carat gold now costs Rs 1,06,338 per 10 grams—up from Rs 1,02,388 just a week ago. That’s a solid jump of Rs 3,950! For those eyeing jewellery, 22-carat gold has climbed to Rs 97,406 from Rs 93,787, while 18-carat gold stands at Rs 79,754, rising from Rs 76,791 per 10 grams.
Silver isn’t lagging behind either. Its price has rallied by Rs 5,598 to reach Rs 1,23,170 per kilogram, compared to Rs 1,17,572 last week. This precious metal price surge is making headlines as demand heats up.
Experts point to global uncertainty as the main culprit behind these gold price hikes and silver price increases. US President Donald Trump’s recent tariffs on multiple countries have stirred up market volatility, pushing investors towards safe-haven assets like gold and silver. Plus, with limited supply meeting rising demand, prices just keep climbing.
Jatin Trivedi from LKP Commodities shares some insights: Gold is trading at Rs 1,06,700 on the MCX and $3,550 on Comex right now. Everyone’s watching the US Federal Reserve’s September meeting closely, where experts expect a rate cut that could further boost gold demand. Those tariffs are also fueling the fire.
Trivedi adds that the outlook for gold looks bright. If prices hold steady above Rs 1,06,450, we might see it testing Rs 1,07,260 soon.
Looking back since January 1, 24-carat gold has soared from Rs 76,162 per 10 grams to Rs 1,06,338—a massive gain of Rs 30,176 or 39.62%. Silver has done even better, jumping from Rs 86,017 per kilogram to Rs 1,23,170, which means a Rs 37,153 increase or 43.19% rise. If you’re tracking gold rates today or silver prices in India, this is a trend worth keeping an eye on!
