Gold hits record high of Rs 1,40,595/10 gm, while silver surges to Rs 2,26,085/kg

 

THE precious metals like gold and silver are glittering more than ever these days as their prices are exploding to record highs levels each passing day. City-based jewellers said that their prices have surged to record highs levels in 2025, driven by global economic uncertainty, expectations of US interest rate cuts, and strong demand. In the Itwari Sarafa Bazar, gold was sold at Rs 1,40,595 per 10 grams including Goods and Sales Tax (GST), while silver was priced at Rs 2,26,085 per kg including GST, on Wednesday. Rajesh Rokde, Chairman of All India Gems and Jewellery Domestic Council, predicts that the gold and silver rally will continue throughout 2026. The major factors for the record increase in prices of both the precious metals can be attributed to geopolitical uncertainty, massive buying by Central Banks of the world as a hedge against inflation, tariff war and growing number of investors among other factors. Earlier, 10 per cent of the people buying gold and silver were investors, now with their prices steeply rising, the number of investors has gone up to 30 per cent. Gold imports in the country were more than 750 tonnes in 2025, compared to 812 tonnes in 2024. Although, imports have declined in volume terms by 10 per cent, but it has risen by 40 per cent value wise, because of the steep rise in prices this year.

 

Newer buying trends are emerging that is fuelling the demand of both gold and silver, is the declining interest rates in the country, where people are investing in gold and silver over fixed deposits, he added. One of the prominent jewellers, Kishore Sheth, Director of Batukbhai Jewellers, situated at Shankar Nagar, said that there is normal demand wedding season demand in the city for gold and silver jewellery. Both the precious metals are rising because of various international factors that determine their prices. Another leading jeweller, Rajesh Khandelwal, Director of Khandelwal Jewellers, Dharampeth felt that silver prices are rising on account of increasing industrial demand. A significant portion of silver’s demand comes from industrial uses, like in solar panels, electronics, and electric vehicles. This robust demand, coupled with supply deficits, has given huge boost to silvers price rally. However, lower physical supply tightness and low inventories have added upward pressure, particularly on silver prices, he added.