Gold hits record Rs 1.19 lakh, silver follows amid festive demand and global uncertainty
Gold prices in India have climbed to an all-time high of ₹1.19 lakh per 10 grams, reflecting both strong festive season demand and global economic uncertainty. The precious metal’s rise has been driven by safe-haven buying as investors seek security amid geopolitical tensions and fluctuating global markets. Silver prices have also moved upward in tandem, supported by robust retail and industrial demand. The upcoming festive season, particularly Navratri and Diwali, has added momentum to buying activity across major cities. Internationally, concerns about inflation, interest rates, and market volatility have encouraged traders to hedge with gold and silver. Analysts suggest the trend may continue as both metals retain strong investor confidence and consumer demand. With India being one of the largest gold consumers globally, price movements here are closely linked to seasonal buying patterns and international factors, making the current surge significant for both markets and buyers.
The Key points
- Gold prices hit ₹1.19 lakh per 10 grams.
- Silver follows the trend with strong upward momentum.
- Festive season demand boosts domestic buying.
- Investors turn to gold amid global uncertainty.
- Inflation concerns support safe-haven buying.
- Silver demand rises from retail and industry sectors.
- Global market volatility influences precious metal prices.
- Diwali and Navratri fuel strong jewellery purchases.
- Analysts expect continued strength in gold and silver.
- India’s role as top gold consumer drives market trends.
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