Gold Gains Over Rs 700 This Week, Silver Surges Past Rs 1.12 Lakh Mark

New Delhi: Gold and silver prices posted strong gains this week as global uncertainties drove investors toward safe-haven assets.

Gold prices rose by over ?700 per 10 grams, while silver surged more than ?5,100 per kilogram.

According to data from the India Bullion and Jewellers Association (IBJA), the price of 24-carat gold climbed from ?97,511 to ?98,243 per 10 grams—a weekly gain of ?732.
22-carat gold also increased from ?89,320 to ?89,991 per 10 grams, and 18-carat gold saw a smaller rise, moving from ?73,133 to ?73,682 per 10 grams.

Silver prices saw an even sharper jump, rising by ?5,120 over the week—from ?1,07,580 to ?1,12,700 per kilogram. The white metal is now hovering close to its all-time high of ?1,13,867 per kilogram, recorded on July 14.

Market analysts attribute the surge in precious metals to growing global tensions. Recent tariff declarations by U.S. President Donald Trump have added to geopolitical and economic uncertainty, boosting demand for safe assets like gold and silver.

Pranav Mer, Vice President at JM Financial Services (EBG - Commodity and Currency Research), said the focus in the coming week will be on trade negotiations, speeches by U.S. Federal Reserve officials, and key U.S. economic data—including housing statistics, weekly jobless claims, and durable goods orders.

"Gold prices have been consolidating within a range recently due to a lack of fresh triggers and a recovery in the U.S. dollar," Mer noted.

Gold and silver are traditionally seen as safe-haven investments during times of instability. As global tensions rise and supply remains limited, prices tend to climb.

Since the beginning of the year, the price of 24-carat gold has increased from ?76,162 to ?98,243 per 10 grams—a rise of ?22,081 or nearly 29%. Silver has performed even better, jumping by ?26,683 or 31%—from ?86,017 to ?1,12,700 per kilogram.

With inputs from IANS