Gold climbed from ₹1,26,591 per 10 grams to ₹1,28,592, inching closer to its annual peak of ₹1,30,874 reached on October 17. Silver surged from ₹1,64,359 per kilogram to ₹1,78,210—its highest price to date.
Gold Up 69% This Year; Silver More Than Doubles
The year-long rally has been striking. Gold has appreciated by ₹52,430 since December 31, 2024, delivering a 69% return. Silver has outpaced gold with a 107% rise, gaining ₹92,193 per kilogram over the same period.
Analysts attribute the surge to a combination of monetary, geopolitical, and market-driven factors that have strengthened safe-haven buying.
Why Prices Are Rising
Central bank accumulation remains a key driver, with several nations reducing their reliance on the US dollar and expanding gold reserves. This sustained institutional demand has kept global prices elevated.
Investor rotation is another factor. Ongoing volatility in cryptocurrency markets, tighter regulatory scrutiny, and subdued equity performance have pushed investors toward gold. The domestic wedding season has also lifted physical demand, supporting higher prices.
Additionally, gold’s appeal as a long-term, non-destructible asset continues to attract buyers, especially during uncertain economic periods.
Consumers Advised to Check Hallmarking
With prices at record levels, experts urge buyers to verify authenticity before making purchases. Hallmarked gold bearing BIS certification and a unique alphanumeric code ensures purity. Consumers are also advised to cross-check prevailing rates and weight calculations, as prices vary by carat and region.
As global economic conditions remain fluid, jewellers expect demand for both metals to stay firm through the year-end festive and wedding season.
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