Daijiworld Media Network - New Delhi
New Delhi, Sep 13: Gold and silver prices surged to fresh all-time highs this week as global economic uncertainty and rising geopolitical tensions drove investors toward safe-haven assets.
According to the Indian Bullion and Jewellers Association (IBJA):
• 24-carat gold closed at Rs 1,09,707 per 10 grams on Friday, up Rs 1,670 from Monday's level of Rs 1,08,037.
• 22-carat gold climbed to Rs 1,00,492 per 10 grams, rising from Rs 98,962 earlier in the week.
• Silver ended the week at Rs 1,28,008 per kg, gaining Rs 3,595 from Monday’s Rs 1,24,413.
This rally marks a continued streak of strong performance in September, with 24-carat gold starting the month at Rs 1,04,075 and staying firmly above the Rs 1 lakh mark.
Futures & Global Market Movement
• Gold futures (October 3 expiry) settled at Rs 1,09,356 per 10 grams, up 0.34%, reflecting bullish sentiment.
• On the international front, Comex gold traded at $3,680.70 per ounce, with strong buying due to US tariff concerns, a dovish Fed outlook, and persistent geopolitical risks.
Analyst Insights
“Gold stayed positive with gains of 0.35% at Rs 1,09,350 as Comex traded firm at $3,647, factoring in expectations of a Fed rate cut next week,” said Jateen Trivedi, VP Research at LKP Securities.
He added that despite being in overbought territory, gold is benefiting from themes such as:
• Global tariff uncertainties
• De-dollarisation efforts
• Expectations of a Fed rate cut (0.50%)
• Weakening global growth outlook
Outlook
Analysts believe the bullion rally may continue in the near term, with gold expected to trade in the range of Rs 1,07,000–Rs 1,12,000 per 10 grams.
With key US economic indicators like CPI data and jobless claims in focus next week, markets remain on edge, and any dovish tilt by the US Fed could further support precious metal prices.
For Indian investors, this marks a renewed confirmation of gold and silver’s status as safe-haven assets in times of volatility.