New Delhi, September 1(HS):
Domestic bullion markets showcased a pronounced upward trend today as gold and silver prices climbed significantly across major Indian cities. The 24-carat gold rates ranged between ₹1,02,360 and ₹1,02,510 per 10 grams, while 22-carat gold hovered between ₹94,190 and ₹94,340 per 10 grams. Silver also followed the bullish trend, with rates in the Delhi market reaching ₹1,24,900 per kilogram.
In metropolitan hubs, Delhi’s 24-carat gold traded at ₹1,02,510 per 10 grams and 22-carat gold at ₹94,340. Mumbai registered slight variations with 24-carat at ₹1,02,360 and 22-carat gold at ₹94,190 per 10 grams. Ahmedabad, Chennai, Kolkata, and other prominent cities mirrored similar price levels, consolidating the nationwide rally. Regional strongholds such as Lucknow, Patna, Jaipur, Bengaluru, Hyderabad, and Bhubaneswar also observed sustained momentum in gold prices, with 24-carat models consistently surpassing ₹1,02,360 per 10 grams and 22-carat close to ₹94,190.
This upward trajectory is attributed to multiple factors including global economic uncertainties, expectations of interest rate cuts by the US Federal Reserve, and a weakened rupee, which has added to gold and silver’s safe-haven appeal. The continuous global trade tensions and a softer US dollar have reinforced investor interest in these precious metals, pushing prices to multi-year highs domestically and internationally.
Silver futures experienced a striking surge, breaching the ₹1.24 lakh per kilogram mark, buoyed by similar macroeconomic factors and heightened industrial demand globally. Analysts project further volatility but maintain a positive outlook on bullion prices as geopolitical and monetary scenarios evolve.
Investors seeking security amid uncertain markets find gold and silver increasingly attractive, with prices now at heightened levels that signal robust demand across India’s key trading centers.
This surge reflects a broad-based bullish sentiment in the precious metals sector as India prepares for heightened demand ahead of festive seasons and global economic shifts.
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Hindusthan Samachar / Jun Sarkar
