Gold Hits ₹1.17 Lakh per 10 Grams, Silver Crosses ₹1.45 Lakh per Kg Amid Global Demand
This week saw a significant uptick in the prices of gold and silver in India, reflecting both domestic and global market trends. According to the India Bullion and Jewellers Association (IBJA), gold prices increased by ₹3,692 per 10 grams over the past week. On Saturday, September 27, 2025, the price of 24-carat gold stood at ₹1,13,262 per 10 grams, which surged to ₹1,16,954 per 10 grams by October 4, 2025.
Silver also experienced a sharp rise. From ₹1,38,100 per kilogram last Saturday, the price climbed to ₹1,45,610 per kilogram, marking an increase of ₹7,510 in just one week.
Year-to-date, the appreciation in precious metals has been remarkable. Gold has risen by approximately ₹40,792 per 10 grams since December 31, 2024, when the price was ₹76,162 per 10 grams. Similarly, silver has seen an increase of ₹59,593 per kilogram over the same period, from ₹86,017 at the end of last year to ₹1,45,610 per kilogram.
Market analysts are forecasting further gains in gold prices in the near term. According to a recent report by Goldman Sachs, the bank has set a target of $5,000 per ounce for gold by next year. At the current exchange rate, this translates to approximately ₹1,55,000 per 10 grams in India. Sandeep Raichura, Director at brokerage firm PL Capital, also noted that gold could reach ₹1,44,000 per 10 grams in the coming months.
Several key factors are contributing to the surge in gold prices:
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Central Bank Purchases – Large central banks across the world are diversifying their reserves to reduce dependence on the US dollar. They are steadily increasing their gold holdings, which boosts demand and drives prices higher.
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Geopolitical and Policy Uncertainty – Ongoing policy uncertainty in the United States, particularly regarding Federal Reserve interventions, has weakened the dollar and affected bond markets. Investors are turning to safe-haven assets like gold, resulting in higher prices.
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Shift from Cryptocurrencies – The volatility of cryptocurrencies and stricter regulations have prompted investors to seek safer alternatives. Gold, with consistent returns, has become an attractive option, especially given lower returns from equity markets in recent years.
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Dedollarization Trends – Several countries are reducing reliance on the US dollar in their economic models. Rising US debt and a weakening dollar encourage investors to buy gold as a hedge against currency risk.
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Long-Term Asset Value – Gold is historically considered a reliable long-term investment. It is durable, limited in supply, and preserves value during periods of inflation, making it a preferred choice for investors looking for long-term security.
These combined factors have created a bullish sentiment in both domestic and international markets. Analysts suggest that both gold and silver will continue to attract investors seeking stable returns amid global economic uncertainties.
As a result, buyers and investors are advised to monitor trends closely, as precious metals may continue their upward trajectory. With central banks increasing purchases and safe-haven demand rising, gold could soon approach ₹1.55 lakh per 10 grams, while silver is expected to maintain strong gains as well.
