Gold Price Today Rises ₹2,341 to ₹1.24 Lakh per 10 Grams; Silver Surges ₹2,695 to ₹1.54 Lakh per Kg — ₹4,047 Jump in Two Days
Mumbai, November 11 (Financial News): Gold and silver prices witnessed a significant rise in the Indian bullion market on Monday. According to the India Bullion and Jewellers Association (IBJA), the price of 24-carat gold increased by ₹1,706 per 10 grams, reaching ₹1,24,147 compared to ₹1,22,441 recorded previously. In just two trading sessions, gold prices have jumped by ₹4,047, as the rate was ₹1,20,100 per 10 grams last Friday. The surge reflects strong domestic demand and global cues pushing precious metal prices upward.
Alongside gold, silver prices also saw a sharp increase. The metal rose by ₹2,695 per kilogram to ₹1,54,338, up from ₹1,51,643 per kilogram the previous day. The rally in both metals comes amid renewed investor interest, festive and wedding season demand, and expectations of a global slowdown that may encourage safe-haven buying.
On October 17, gold had touched an all-time high of ₹1,30,874 per 10 grams, while silver reached its record peak of ₹1,78,100 per kilogram on October 14. The current surge indicates that both metals are once again approaching their previous highs. Experts say the rise is supported by multiple factors, including a weak rupee against the US dollar, high retail demand, and geopolitical uncertainty that continues to boost gold’s appeal among investors.
The rates issued by IBJA do not include 3% GST, making charges, or jewellers’ profit margins, which means retail rates vary across cities. IBJA benchmark rates are used by the Reserve Bank of India (RBI) to determine the issue price of Sovereign Gold Bonds (SGBs), and by several banks for fixing gold loan values. As a result, while the IBJA rate currently stands at ₹1,24,147 per 10 grams, the final price for customers in major cities such as Mumbai, Delhi, and Chennai may differ slightly depending on local factors.
In 2025 so far, gold has become costlier by ₹45,925 per 10 grams. On December 31, 2024, the price of 24-carat gold stood at ₹76,162 per 10 grams, which has now surged to ₹1,22,087 — a steep rise driven by international market trends and local festive demand. Similarly, silver has recorded an increase of ₹64,958 per kilogram during the same period. On December 31, 2024, the price of one kilogram of silver was ₹86,017, which has now climbed to ₹1,50,975 per kilogram, showing strong performance in both investment and industrial demand segments.
Experts predict that gold price may continue to fluctuate in the coming days. However, as the Indian wedding season gathers pace, demand is expected to remain firm, supporting gold’s upward momentum. Analysts forecast that the yellow metal may continue trading in the range of ₹1.20 lakh to ₹1.22 lakh per 10 grams in the near term, while silver could move between ₹1.50 lakh and ₹1.55 lakh per kilogram depending on global market dynamics. International factors such as US inflation data, Federal Reserve policy signals, and movement in crude oil prices will also play a role in determining future trends.
Financial experts have advised customers to buy only certified gold with Bureau of Indian Standards (BIS) hallmarking. The hallmark code, such as “AZ4524,” ensures the purity of the metal, whether it is 22K, 24K, or 18K. The government and BIS have made hallmarking mandatory for gold jewellery to protect consumers from fraud. Investors are also encouraged to consider safer investment options like digital gold, Sovereign Gold Bonds, or exchange-traded funds (ETFs), which offer better security and transparency compared to physical gold.
In summary, India’s bullion market is witnessing a renewed rally as gold and silver prices surge sharply within two days. With festive and wedding demand increasing, and global uncertainty continuing, experts expect both metals to maintain firm support in the short term. Gold, often seen as both a cultural and financial asset in India, continues to glitter brighter amid shifting global trends and local buying momentum.
