Delhi, 22 September (H.S.): Riding a sustained rally, gold and silver prices touched record highs in Indian bullion markets on Monday, with both precious metals climbing to unprecedented levels across major cities. The surge was driven by robust demand and a broader uptrend in global commodity markets, dealers said.

In Delhi, 24-carat gold was trading at ₹1,12,730 per 10 grams, while 22-carat gold was quoted at ₹1,03,350 per 10 grams. The financial capital Mumbai saw similar rates, with 24-carat gold at ₹1,12,580 and 22-carat at ₹1,03,200 per 10 grams. Prices in other major metros, such as Ahmedabad, Chennai, and Kolkata, closely mirrored these levels, hovering between ₹1,12,580 and ₹1,12,730 for 24-carat, and ₹1,03,200 to ₹1,03,350 for 22-carat.

Regional centers joined the rally: Lucknow, Patna, and Jaipur all reported 24-carat gold at ₹1,12,630–₹1,12,730 per 10 grams, and 22-carat gold at ₹1,03,250–₹1,03,350. In the southern states, Bengaluru, Hyderabad, and Bhubaneswar recorded 24-carat gold at ₹1,12,580 and 22-carat at ₹1,03,200 per 10 grams.

Silver was not left behind—the metal surged by ₹5,000 per kg to reach ₹1,38,000 per kg in Delhi, reflecting a broad-based rally across the board.

Market analysts attributed the sharp upward movement to heightened safe-haven demand amid global economic uncertainty, coupled with festive buying ahead of Dussehra and Diwali. The record prices are expected to impact both retail investors and the jewelry sector, which faces higher input costs despite strong consumer interest.

With no immediate signs of a reversal, traders are bracing for continued volatility in the weeks ahead, as domestic markets track international trends and policy cues from the US Federal Reserve.

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Hindusthan Samachar / Jun Sarkar