Gold Crosses ₹1.16 Lakh; Silver Hits New Record Amid Global Market Rally

New Delhi (Uttam Hindu News): On Monday, gold and silver prices in India’s bullion market broke all previous records due to strong global cues and expectations of an interest rate cut by the U.S. Federal Reserve. In the national capital, gold surged by ₹2,200 to reach a historic high of ₹1,16,200 per 10 grams. Silver also jumped ₹4,380 to touch ₹1,36,380 per kilogram, marking a new all-time high.

According to the All India Sarafa Association, the price of 99.9% pure gold rose from ₹1,14,000 per 10 grams on Friday to ₹1,16,200 today. Similarly, silver increased from ₹1,32,000 per kilogram on Friday to ₹1,36,380 per kilogram.

Why the surge?

Senior analyst Soumil Gandhi from HDFC Securities explained that multiple strong international factors are behind this record rally. Expectations that the U.S. Federal Reserve may implement two more rate cuts by the end of the year have pressured the U.S. dollar and strengthened the demand for precious metals like gold and silver. Additionally, robust inflows into exchange-traded funds (ETFs) and continuous gold purchases by central banks worldwide have further fueled demand, leading to unprecedented price spikes.

Investors eye Federal Reserve

Market experts say investors are closely watching comments from U.S. Federal Reserve officials and the speech by Fed Chairman Jerome Powell scheduled for Tuesday. These statements are expected to indicate future policy direction, prompting investors to consider gold as a safe investment. Globally, spot gold is trading at a record $3,728.43 per ounce, up over 1%.

Gold surges 47% this year

Data shows that in the current calendar year (2025), gold prices have risen by ₹37,250 per 10 grams (47.18%), while silver has gained over 52%.