Mumbai: Gold and silver prices witnessed a sharp rise this week, pushing gold rates beyond ₹1.54 lakh per 10 grams and silver prices above ₹3.17 lakh per kilogram.
According to the India Bullion Jewellers Association (IBJA), the price of 24-carat gold increased by ₹12,717 in one week to reach ₹1,54,310 per 10 grams, up from ₹1,41,593 per 10 grams previously.
Similarly, 22-carat gold prices rose to ₹1,41,348 per 10 grams from ₹1,29,699, while 18-carat gold moved up from ₹1,06,195 to ₹1,15,733 per 10 grams.
Silver prices also surged significantly, climbing ₹35,815 to ₹3,17,705 per kilogram, compared to ₹2,81,890 per kilogram earlier.
On international markets, gold reached an all-time high of $5,017 per ounce, up from $4,600, while silver crossed $100 per ounce for the first time, rising to $101 from $89.
Experts attribute the ongoing uptrend in gold and silver prices to increased global uncertainty caused by US tariffs, which has boosted demand for safe-haven assets.
Moreover, silver prices have risen faster than gold due to higher industrial demand surpassing supply. The growing use of silver in solar panels, electric vehicles, and other electronic devices has significantly increased its industrial consumption in recent years.
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