Silver prices experienced a substantial surge of Rs 1,900, reaching a new record of Rs 1,41,900 per kilogram, while gold increased by Rs 330 in the national capital on Friday due to strong stockist demand and festival-related purchasing, as reported by the All India Sarafa Association, quoted by PTI.Silver, which had previously closed at Rs 1,40,000 per kilogram, continued its upward trend due to strong physical demand and investor interest, according to the association.Since December 31, 2024, silver prices have increased by Rs 52,200 per kilogram or 58.19% from Rs 89,700 per kilogram. The continuous rise in silver prices is attributed to the current festival season, increased industrial usage, and heightened safe-haven purchasing amidst global uncertainties. Market participants indicated that despite weak global indicators, domestic bullion markets remained strong due to consistent purchasing by jewellers, stockists, and retail buyers.Meanwhile, pure gold (99.9%) increased by Rs 330 to Rs 1,17,700 per 10 grams (all taxes included), from its previous value of Rs 1,17,370 per 10 grams on Thursday.Gold of 99.5% purity increased by Rs 400 to Rs 1,17,100 per 10 grams, compared to Rs 1,16,700 per 10 grams in the previous trading session.Gold prices have increased by Rs 38,750 per 10 grams, or 49.08%, from Rs 78,950 per 10 grams since December 31, 2024, demonstrating significant growth due to consistent investor interest and seasonal demand. “Gold traded with a modest positive bias on Friday, supported by haven buying, while a general risk-off sentiment in broader markets continued to strengthen demand for precious metals,” said Saumil Gandhi, Senior Analyst – Commodities at HDFC Securities.“Meanwhile, US President Trump announced a new round of tariffs on imported drugs, trucks, and furniture set to take effect on October 1. This announcement renewed trade-related uncertainty and increased demand for safe haven metals,” he added.“Silver hit a fresh record high in the domestic market, taking bullish cues from global markets. The white metal rose above USD 45 an ounce for the first time in 14 years, driven by strong inflows into ETFs, high demand, and tighter physical availability,” Gandhi further noted.Internationally, both precious metals showed decline. Spot gold decreased by 0.12% to USD 3,744.75 per ounce, while silver reduced by 0.35% to USD 45.03 per ounce.On the Multi Commodity Exchange (MCX), October gold futures increased by Rs 391 or 0.35% to Rs 1,13,020 per 10 grams. December gold futures also rose by Rs 198 or 0.17% to Rs 1,14,069 per 10 grams.December silver futures increased by Rs 1,243 or 0.90% to reach Rs 1,38,299 per kilogram. March 2026 silver futures also achieved a new high, increasing by Rs 1,225 or 0.88% to Rs 1,39,627 per kilogram on the MCX.Market analysts noted that recent increases in domestic bullion prices were primarily demand-driven, supported by festival purchases and anticipated global monetary easing. “With central banks continuing to diversify their reserves and the rupee showing signs of weakness, precious metals are likely to remain well supported,” they added, as quoted by PTI.In international markets, December gold futures increased by 0.28% to USD 3,781.82 per ounce while December silver futures rose nearly 2% approaching a 14-year high of USD 45.93 per ounce.
