As the wedding season kicks off across India, gold prices have struck an emotional chord with families and buyers, hitting an all-time high that reflects not just festive demand but also global economic ripples. In Delhi’s bullion market, the price of gold has reached an astonishing ₹96,450 per 10 grams, sending waves of excitement and anxiety alike through households planning for upcoming ceremonies. At the same time, silver too has caught the momentum, surging by ₹2,500 to touch ₹97,500 per kilogram.
Emotional and Festive Demand Meets Global Uncertainty
This sharp rise in precious metal prices is not just driven by cultural traditions or increased demand from brides and grooms. According to the All India Bullion Association (AIBA), the latest uptick in gold price comes after a ₹50 rise on Tuesday, touching a new peak. On Monday, pure gold of 99.9% purity had dipped slightly, closing at ₹96,400 per 10 grams. But Tuesday’s trading session flipped the script with both 99.9% and 99.5% purity gold gaining traction and reaching new heights.
Global Market Trends Are Pushing Prices Higher
Globally, the sentiment around gold is equally bullish. Spot gold prices climbed $13.67, or 0.43%, to hit $3,224.60 per ounce, reflecting concerns and uncertainties in international financial policies. The weakening of the US dollar and ongoing doubts surrounding the American trade policy are adding fuel to this upward trend.
Silver Joins the Rally, Touches ₹97,500 per Kilogram
Silver, often seen as gold’s dynamic cousin, has had its moment of glory. Thanks to a spike in industrial demand, its price surged by ₹2,500, jumping from Monday’s close of ₹95,000 to ₹97,500 per kilogram. Although in the Asian market spot silver dipped slightly to $32.32 per ounce, the overall domestic trend remained upward.
Experts Weigh In: Trade Tensions and Dollar Weakness Behind the Surge
Chintan Mehta, CEO of Abans Financial Services, pointed out that the fall in the US dollar combined with growing ambiguity around US trade moves has kept gold prices near record levels. Investors are closely watching US Federal Reserve Chairman Jerome Powell’s upcoming press conference, hoping to get clues about how the central bank might respond if economic tensions worsen or trade wars escalate.
Market Eyes on US and European Economic Signals
Adding to this cautious optimism, Saumil Gandhi, Senior Analyst–Commodities at HDFC Securities, mentioned that traders are keeping an eye on macroeconomic indicators such as the NY Empire State Manufacturing Index. Meanwhile, key speeches by FOMC member Thomas Barkin and European Central Bank President Christine Lagarde are also expected to sway global and domestic metal markets. Tariff-related developments, in particular, remain a crucial factor that could shape price movements in the coming days.
A Glittering Opportunity with a Word of Caution
While the glitter of gold and silver continues to mesmerise buyers during this emotionally significant season, financial awareness and timely investment decisions have become more important than ever.
Disclaimer: This article is for informational purposes only. It does not constitute financial advice. Please consult with a certified financial advisor before making any investment in gold, silver, or related markets.
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