In a remarkable turn of events, gold prices have surged once again, reaching unprecedented heights in Delhi on Tuesday. This upswing comes as a result of robust trends in international markets, as highlighted by the All India Sarafa Association.
The price of gold with 99.9% purity increased by ₹2,650, settling at a staggering ₹1,40,850 for every 10 grams. In the prior trading session, gold had closed at ₹1,38,200 per 10 grams.
This latest increase signifies a total gain of ₹61,900 in 2025, illustrating a dramatic rise of nearly 78.4% from the ₹78,950 recorded on December 31, 2024. The ongoing rally reflects a notable shift in investor sentiment toward safe-haven assets amid rising global uncertainties.
Silver also enjoyed a significant uptrend, climbing ₹2,750 to reach ₹2,17,250 per kilogram, inclusive of taxes. On Monday, silver settled at ₹2,14,500 per kg after a remarkable single-day gain of ₹10,400.
Year-to-date, silver has performed even better, surging by ₹1,27,550, or approximately 142.2%, from ₹89,700 per kilogram at the close of 2024.
Market analysts attribute the ongoing bullish trend to growing expectations of the US adopting easier monetary policies alongside rising geopolitical concerns.
Global investors are increasingly considering the likelihood of multiple interest rate cuts by the US Federal Reserve in 2026. Lower interest rates generally enhance the attractiveness of non-yielding assets such as gold and silver.
On the global front, spot gold soared by USD 54.3, or 1.22%, reaching its peak at USD 4,498 per ounce. So far this calendar year, spot gold has appreciated by USD 1,892.23, reflecting an increase of 72.6% from USD 2,605.77 per ounce at the end of the previous year.
Silver prices also crossed a notable threshold internationally, rising 1.4% to exceed the USD 70 mark per ounce for the first time. In 2025, spot silver has climbed by USD 41.03, or nearly 141.6%, from its previous price of USD 28.97 per ounce.
Analysts emphasize that expectations around interest rate cuts, coupled with a weakened US dollar and persistent geopolitical tensions, are propelling the precious metals market.
As we look ahead, market participants are likely to keep a watchful eye on upcoming US macroeconomic data, including the revised estimates for third-quarter GDP. These insights could further illuminate the state of the US economy and influence future Federal Reserve monetary policy decisions.
Given the strong international cues and consistent investor interest, gold and silver prices are expected to remain resilient in the immediate future.
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