NEW DELHI— Silver prices surged on Tuesday while gold experienced a modest dip, reflecting shifting investor sentiment ahead of the U.S. Federal Reserve’s key policy meeting.
According to the India Bullion and Jewellers Association (IBJA), the price of silver rose by ₹323, climbing from ₹1,12,984 to ₹1,13,307 per kilogram. The precious metal has remained above ₹1,10,000/kg in recent sessions and recently hit a record high of ₹1,15,850/kg on July 23.
In a market report, Client Associates (CA) described silver as more than just a traditional precious metal, calling it a “modern asset class” driven by industrial demand and historical credibility. The firm projected a 15–20 percent upside for silver over the next 12–24 months, citing its dual utility in both investment and industrial sectors.
“The dual usage differentiates silver from traditional precious metals and connects its price movements to both global uncertainty and technological growth cycles,” CA said in its analysis.
Meanwhile, gold prices edged slightly lower. The price of 24-carat gold fell from ₹98,446 to ₹98,296 per 10 grams. Similarly, 22-carat gold slipped ₹138 to ₹90,039 per 10 grams, and 18-carat gold dropped ₹113 to ₹73,722 per 10 grams.
On the Multi Commodity Exchange (MCX), gold and silver were trading higher in the futures market. Gold futures for August 5, 2025, rose 0.27 percent to ₹97,804, while silver futures for September 5, 2025, increased 0.2 percent to ₹1,13,281.
Globally, both metals posted modest gains. Silver rose 0.15 percent to $38.28 per ounce on COMEX, while gold climbed 0.25 percent to $3,318.40 per ounce. As of Tuesday, gold was trading at ₹97,900 domestically, with a gain of ₹350, and rose further on COMEX to $3,325 per ounce — a 0.30 percent increase.
“Gold prices traded slightly higher at ₹97,900 with gains of ₹350, while Comex gold rose by 0.30 percent to $3,325 amid the ongoing two-day U.S. Federal Reserve policy meeting,” said Jateen Trivedi, Analyst at LKP Securities.
Trivedi added that gold is expected to remain in the range of ₹97,000 to ₹98,650 in the near term. (Source: IANS)
