Gold Prices Surge to One-Month High Amid Global Rally, Silver Jumps Sharply

Gold prices staged a powerful comeback in the national capital on Wednesday, with the yellow metal climbing to a one-month high of ₹1.5 lakh per 10 grams, driven by a strong rally in global markets and renewed investor interest in safe-haven assets. The surge marked the second consecutive day of gains for bullion, reflecting changing expectations around global interest rates and geopolitical developments.

According to the All India Sarafa Association, 99.9 per cent purity gold rose by ₹2,500, or 1.7 per cent, to ₹1,50,000 per 10 grams, inclusive of taxes, from the previous close of ₹1,47,500. The precious metal had last traded at similar levels in early July.

Silver also witnessed a sharp upswing, surging by ₹6,200 to ₹2,32,700 per kilogram, nearing a one-month high. The white metal had closed at ₹2,26,500 per kg in the previous session, underlining the broad-based strength across the precious metals market.

Analysts attributed the rally to a strong rise in international bullion prices, supported by easing concerns over inflation and expectations that the US Federal Reserve may refrain from aggressive monetary tightening. Hopes surrounding a possible US-Iran agreement and lower crude oil prices also boosted sentiment, enhancing gold’s appeal among investors.

In overseas markets, spot gold jumped more than 2 per cent to around USD 4,160 per ounce, while silver gained over 3 per cent to USD 61 per ounce. However, lingering geopolitical tensions in West Asia and uncertainty over future energy prices continue to keep investors cautious.

Market participants are now closely watching key US economic indicators, including employment data and non-farm payroll figures, which could provide fresh signals on the Federal Reserve’s interest rate path and determine the next direction for gold prices.

With global uncertainties persisting and bullion regaining momentum, traders believe precious metals could remain in focus in the coming sessions.