New Delhi– Gold and silver surged to new all-time highs on Wednesday, extending their rally in both domestic and international markets as investors flocked to safe-haven assets.
According to the India Bullion and Jewellers Association (IBJA), the evening rate for 24-carat gold rose to Rs 1,06,021 per 10 grams, compared to Rs 1,04,424 on Tuesday—a jump of Rs 1,597 within 24 hours.
Prices for 22-carat gold climbed to Rs 97,115 per 10 grams from Rs 95,652, while 18-carat gold advanced to Rs 79,516 per 10 grams from Rs 78,318. Silver also posted gains, reaching Rs 1,23,220 per kilogram, up Rs 387 from the previous day’s Rs 1,22,833. The IBJA publishes gold and silver rates twice daily, in the morning and evening.
Futures mirrored the uptrend. On the Multi Commodity Exchange (MCX), gold for October 3, 2025 delivery gained 0.62 percent to Rs 1,06,447, while silver for December 5, 2025 delivery increased 0.27 percent to Rs 1,24,863.
International markets showed a similar trajectory. On Comex, gold rose 0.63 percent to $3,615.00 per ounce, and silver edged up 0.41 percent to $41.240 per ounce.
Analysts attributed the momentum to deeper shifts rather than short-term speculation. “Gold extends beyond being only a hedge against inflation, as the U.S. Federal Reserve is on the verge of starting to cut interest rates with hotter inflation. Expectations of a rate cut this month and lingering uncertainty over President Donald Trump’s tariff policies continue to support gold. The pace of this rally sends cautious signals to investors,” said N.S. Ramaswamy, Head of the Commodity Desk and CRM at Ventura.
He added that while the dollar’s appeal is weakening, confidence in gold is strengthening amid global fiscal concerns. “In this hot gold rally, profit booking wouldn’t come up soon. We expect gold futures to rally further in the range of $3,600–$3,680. In order to find opportunities to buy gold in dips, the upside range is expected to move beyond $3,600; thus, the dips also remain at elevated levels of $3,450–$3,500,” Ramaswamy said. (Source: IANS)
