Gold prices in India reached new peaks today on the Multi Commodity Exchange, with October futures crossing 1,09,500 rupees per 10 grams and December contracts hitting 1,10,400 rupees. Silver saw a modest gain, trading up by 0.1 percent at around 1,25,360 rupees per kilogram in the bullion market, driven by global demand and economic factors as of September 11, 2025.
Record Breaking Surge on MCX
Gold futures led the charge with strong gains across multiple expiry dates. The October contract rose over 0.7 percent to 1,09,208 rupees per 10 grams, while February and April expiries also touched lifetime highs. This marks a continuation of the upward trend seen throughout 2025, where gold has climbed more than 40 percent year to date.
In the spot market, 24 karat gold traded at 1,09,600 rupees per 10 grams, up 0.6 percent from recent levels. Traders point to steady buying from China and central banks as key drivers. Silver, while less dramatic, held firm with December futures slightly down at 1,25,367 rupees per kilogram but overall positive in physical trading.
This rally comes amid broader market volatility, with investors turning to precious metals as safe havens. Recent global events, including economic slowdown fears in major economies, have boosted demand.
Factors Fueling the Price Jump
Several elements are pushing gold and silver higher this year. Global uncertainties, such as trade tensions and inflation worries, make these metals attractive. In India, festival season demand adds local pressure, with buyers stocking up ahead of events like Diwali.
Experts note that silver’s industrial uses in solar panels and electronics have spurred its gains, up nearly 50 percent in the past 12 months. Gold benefits from its role as an inflation hedge, with prices doubling since 2020 in some metrics.
Central bank purchases remain a big factor. Reports show aggressive buying by nations like China, which has increased its gold reserves significantly. This global appetite supports the Indian market, where imports have risen.
Currency fluctuations also play a part. A weaker rupee against the dollar makes imports costlier, lifting local prices. Combined with low interest rates worldwide, the environment favors precious metals over other investments.
Current Prices Across Major Cities
Gold and silver rates vary slightly by location due to taxes and local demand. As of today, here is a snapshot of 24 karat gold prices per 10 grams in key cities:
- Mumbai: 1,10,519 rupees
- Delhi: 1,10,669 rupees
- Chennai: 1,10,519 rupees
- Kolkata: 1,10,519 rupees
Silver prices per kilogram show similar stability, with most cities around 1,25,000 to 1,30,000 rupees. These figures reflect spot market trends and can change quickly based on international cues.
Historical Trends and Year to Date Performance
To understand the current highs, look at how prices have evolved. Gold started 2025 at around 75,746 rupees per 10 grams and has surged steadily. Silver began at lower levels but caught up with industrial demand.
| Month | Gold (per 10g, rupees) | Silver (per kg, rupees) |
|---|---|---|
| January 2025 | 78,000 | 85,000 |
| April 2025 | 96,747 | 107,050 |
| June 2025 | 100,330 | 107,050 |
| August 2025 | 102,000 | 121,000 |
| September 2025 (as of 11th) | 109,600 | 125,360 |
This table highlights the consistent climb, with gold up over 40 percent and silver gaining about 50 percent year to date. Compared to stocks, where the Nifty index lagged behind, precious metals have outperformed in 2025.
Expert Views on Future Outlook
Analysts predict more upside for both metals. Some forecast gold reaching 1,35,000 rupees by year end, driven by potential rate cuts from global central banks. Silver could hit 1,35,000 rupees per kilogram, supported by green energy trends.
One expert noted that silver’s supply deficit, due to mining constraints and rising demand from renewables, points to sustained rallies. However, risks like a stronger dollar or economic recovery could cap gains.
Investors should watch upcoming U.S. economic data, as it influences global prices. In India, policy changes on imports could also sway the market.
For those considering buys, diversification is key. Experts advise against timing the market perfectly and suggest gradual investments through ETFs or physical forms.
Impact on Investors and Buyers
This price surge affects everyday buyers, especially with wedding season approaching. Jewelers report higher footfall but also exchanges of old gold to offset costs.
For long term investors, the trend reinforces gold’s value as a wealth preserver. Since 1981, gold has multiplied 55 times, outpacing some assets but trailing stock indices like the Sensex.
Short term traders on MCX are active, with volatility creating opportunities. However, caution is advised amid global uncertainties.
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