Daijiworld Media Network - New Delhi

New Delhi, Aug 31: Prices of both gold and silver witnessed a sharp surge this week, marking a significant shift from the declines recorded last week. Gold rose by over Rs 3,000 per 10 grams, while silver prices jumped more than Rs 3,600 per kilogram.

As per the India Bullion and Jewellers Association (IBJA), the price of 10 grams of 24-carat gold increased to Rs 1,02,388 from Rs 99,358 a week ago, reflecting a gain of Rs 3,030. Similarly, 22-carat gold climbed from Rs 91,012 to Rs 93,787, and 18-carat gold saw a rise from Rs 74,519 to Rs 76,791 per 10 grams.

Silver prices also surged by ?3,666 during the week, rising from Rs 1,13,906 to Rs 1,17,572 per kilogram.

The steep rise in bullion prices is being attributed to mounting global uncertainty. Market analysts point to actions such as tariff impositions by US President Donald Trump and growing geopolitical instability, prompting investors to shift toward safe-haven assets like gold and silver. This increased demand, coupled with constrained supply, has further driven prices up.

Experts believe September will be a key month, with the US Federal Reserve’s policy decisions—particularly regarding interest rates—expected to influence market sentiment. A potential rate cut could offer further support to precious metals.

Since the beginning of the year, gold has surged by Rs 26,226 per 10 grams—up 34.43%—while silver has gained Rs 31,555 per kilogram, marking a 36.68% increase.

This sharp uptick follows a weak performance the previous week, when gold slipped by over Rs 600 and silver dropped by more than Rs1,000 in the domestic market.