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Key Points

Gold and silver prices have witnessed a sharp rally this week, keeping both metals close to their all-time highs. The price of 24-carat gold stands at Rs 1,09,707 per 10 grams, reflecting a weekly rise of Rs 3,369. Silver prices also gained significantly, crossing the Rs 1.28 lakh mark per kilogram with a Rs 4,838 increase. This rally is attributed to global uncertainties, US tariff measures, and expectations of Federal Reserve rate cuts driving safe-haven demand.

Key Points: Gold Surges Rs 3300 Silver Crosses Rs 1.28 Lakh Mark

  • Gold prices rose Rs 3369 this week to Rs 1,09,707 per 10 grams
  • Silver gained Rs 4838 reaching Rs 1,28,008 per kilogram
  • Global uncertainties and US tariff measures driving safe-haven demand
  • Experts cite Federal Reserve rate cut expectations supporting bullish trend
2 min read

Gold surges over Rs 3,300 in this week, Silver crosses Rs 1.28 lakh mark

Gold prices soar over Rs 3300 this week, silver crosses Rs 1.28 lakh per kg amid global uncertainty and US tariff concerns. Latest IBJA rates.

"Gold is likely to trade between Rs 1.07 lakh and Rs 1.12 lakh per 10 grams in the coming sessions. - Jatin Trivedi, LKP Commodities"

New Delhi, Sep 14

Gold and silver prices witnessed a sharp rally this week, keeping both precious metals close to their all-time highs.

According to the India Bullion and Jewellers Association (IBJA), the price of 24-carat gold stands at Rs 1,09,707 per 10 grams, compared to Rs 1,06,338 a week ago -- reflecting a rise of Rs 3,369.

Prices of 22-carat gold have climbed from Rs 97,406 to Rs 1,00,492 per 10 grams, while 18-carat gold has risen from Rs 79,754 to Rs 82,280 per 10 grams.

Silver prices also gained significantly, rising by Rs 4,838 during the review period. The white metal now trades at Rs 1,28,008 per kg, up from Rs 1,23,170.

The rally in precious metals is being attributed to rising global uncertainties. Recent tariff measures imposed by US President Donald Trump on multiple countries have heightened concerns worldwide.

Traditionally seen as safe-haven assets during times of uncertainty, both gold and silver have witnessed higher demand, while limited supply has further pushed prices upward.

Jatin Trivedi of LKP Commodities noted that gold prices have continued their bullish run, driven by increasing expectations of a US Federal Reserve rate cut.

Despite the metal being overbought, ongoing tariff disputes and the global de-dollarization theme are supporting higher prices.

He added that gold is likely to trade between Rs 1.07 lakh and Rs 1.12 lakh per 10 grams in the coming sessions.

Since January 1, gold prices have jumped by 44.04 per cent -- from Rs 76,162 to Rs 1,09,707 per 10 grams -- marking an increase of Rs 33,545.

Silver has seen an even sharper rise of 48.81 per cent, moving from Rs 86,017 to Rs 1,28,008 per kg during the same period.

- IANS

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Reader Comments

P
Priya S
Good time for those who invested in gold earlier! My mother bought some gold jewelry 5 years back and it's almost doubled in value. Traditional Indian wisdom of investing in gold proving right once again.
M
Michael C
As an expat in India, I'm amazed how gold is both an investment and cultural necessity here. The 44% rise since January is staggering! Better returns than most mutual funds this year.
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Anjali F
While gold is rising, I worry about middle-class families who save for years to buy gold for weddings. At this rate, many will have to compromise on purity or quantity. Not good for our social traditions.
V
Vikram M
Silver crossing 1.28 lakh is huge! Many small investors prefer silver over gold due to lower entry price. This rally is benefiting those who diversified into both metals. Smart move for long-term wealth preservation.
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Sarah B
The global uncertainty factor is real, but I wonder if this bubble might burst eventually. Prices can't keep rising at this pace forever. Might be good to book some profits if you've held for long.

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