Gold and silver prices in India surged to unprecedented levels on Thursday, driven by escalating international tensions and strong domestic demand. The price of 24-carat gold jumped by ₹7,400 to reach ₹1,65,000 per 10 grams, while silver climbed to ₹2,98,300 per kilogram. Rates may vary slightly across regions and trading hours.
Analysts attribute the sharp rise to growing geopolitical uncertainty, particularly the emerging conflict between the United States and Iran, which has prompted investors worldwide to move funds into gold as a safe-haven asset. This has pushed global gold prices beyond the $5,000-per-ounce mark, with the impact directly reflected in Indian markets.
Adding to the pressure are seasonal factors at home. With the wedding season approaching and gold traditionally in high demand during festivals and marriages, prices are seeing further support. The surge is placing significant strain on middle-class households, especially families preparing for weddings, as rising bullion rates continue to stretch budgets.