Gold Prices Up 43% Since Last Diwali, Silver Gives Over 37% Returns

New Delhi (Uttam Hindu News): With less than a month remaining for Diwali this year, gold and silver prices have witnessed a significant surge since last Diwali. Both precious metals have provided investors with strong returns of up to 43%.

According to the India Bullion and Jewellers Association (IBJA), the price of 24-carat gold on October 30 was ₹79,681 per 10 grams, which has now risen to ₹1,14,314 per 10 grams. This marks a 43.46% increase since last Diwali. Since the markets were closed on Diwali in 2024 (October 31), the prices on October 30 were considered for comparison.

The price of 22-carat gold for 10 grams has increased to ₹1,04,712 from ₹72,988, while 18-carat gold for 10 grams rose to ₹85,736 from ₹59,761. Silver has also seen a sharp increase, rising 37.55% from ₹98,340 per kg last Diwali to ₹1,35,267 per kg.

The surge in gold and silver prices is attributed to global market volatility. Over the past year, the Russia-Ukraine war, the Israel-Hamas conflict, and tariffs imposed by former U.S. President Donald Trump created global uncertainty. Investors, seeking safe-haven assets, increased their investment in gold and silver, driving up prices.

Investor demand for safe-haven assets like gold and silver has surged, while increased industrial use of silver in electronics has further supported the price rise. As Diwali approaches, the precious metals market continues to attract investor attention.