Hyderabad: Gold and silver prices in India surged to fresh record highs on Friday, pushing precious metals further out of reach for the common man amid sustained global uncertainty and strong investor demand. Gold is inching closer to the ₹2 lakh mark per 10 grams, while silver has crossed ₹4.2 lakh per kilogram nationwide.
Tracking international markets, domestic bullion prices witnessed a sharp rally, with 10 grams of pure gold rising by nearly ₹12,000 and silver jumping by up to ₹30,000 per kg in recent sessions, traders said. The surge comes despite the US Federal Reserve maintaining status quo on benchmark interest rates, indicating continued safe-haven buying.
In the Hyderabad bullion market, prices peaked around 6 am on Friday, with 24-carat gold quoted at ₹1,78,886 per 10 grams and 22-carat ornamental gold at ₹1,63,960. Similar rates prevailed in Vijayawada and Visakhapatnam. Chennai recorded the highest levels, with 24-carat gold trading at ₹1,83,290 per 10 grams and 22-carat gold at ₹1,68,010.
Silver also touched an all-time high in Hyderabad at ₹4,25,100 per kg, with comparable rates in New Delhi. Mumbai and Kolkata offered marginal relief, where silver traded around ₹4.10 lakh per kg.
Market participants attributed the rally to global volatility and sustained safe-haven demand, cautioning that bullion prices may remain elevated in the near term.