Gold At ₹1.09 Lakh, Silver At ₹1.28 Lakh — Precious Metals Shine On Global Uncertainty

Mumbai: Gold prices climbed to a new record this week as global worries pushed investors towards safe-haven assets. According to Indian Bullion and Jewellers Association (IBJA), 24-carat gold closed at Rs 1,09,707 per 10 grams on Friday, up Rs 1,670 from Monday’s level of Rs 1,08,037. Throughout September, gold has stayed above the Rs 1 lakh mark, starting the month at Rs 1,04,075.

Prices of 22-carat gold also rose sharply, ending the week at Rs 1,00,492 per 10 grams, compared to Rs 98,962 on Monday.

Silver follows gold’s rally

Silver also gained momentum, closing at Rs 1,28,008 per kilogram on Friday. This was an increase of Rs 3,595 from Monday’s Rs 1,24,413. The white metal has remained firm above the Rs 1.20 lakh level all through September, showing strong investor demand.

Futures and global markets

On the futures market, October 3 gold contracts settled at Rs 1,09,356 per 10 grams, up 0.34 per cent on Friday. Globally, Comex gold traded at USD 3,680.7 per ounce, extending gains as traders sought refuge from economic and political risks.

Why prices are rising?

Analysts say several reasons are driving this rally — tariff worries between major economies, global slowdown concerns, and geopolitical tensions. Expectations of a US Federal Reserve interest rate cut next week are also boosting demand for gold.

Jateen Trivedi of LKP Securities said gold remains strong within a range of Rs 1,07,000–Rs 1,12,000 per 10 grams. He added that even though gold is in “overbought territory,” factors like tariff uncertainty and the global move away from the US dollar are keeping prices high.

What it means for investors

For Indian investors, the rise in gold and silver underlines their role as safe-haven assets. Experts suggest the trend may continue in the short term if global uncertainty persists.