Key Points
- Gold surged to ₹1,09,900 per 10 grams and silver to ₹1,29,100 per kg on Friday, setting fresh all-time highs in the Indian market
- Prices have risen at unprecedented speeds, with daily gains often exceeding ₹1,000–₹3,900 for silver and ₹600 for gold
- Bullion experts predict gold may cross ₹1,20,000 per 10 grams and silver ₹1,50,000 per kg by Diwali 2025
- Any price correction from global influences (e.g., US tariffs) is likely to be temporary, with traders expecting continued uptrend
- Soaring prices have made gold and silver increasingly unaffordable for middle-class families, raising market anxiety
New Delhi: The prices of gold and silver are breaking records across India, with both commodities witnessing their fastest-ever climb in recent history. On Friday, silver jumped ₹3,900 in just one day, reaching an all-time high of ₹1,29,100 per kg up from ₹1,25,200 the previous evening. Gold also gained ₹600 overnight, touching ₹1,09,900 per 10 grams and marking the highest ever closing price for the metal in India.
Such rapid appreciation is causing confusion and concern among buyers. Daily price increases, once limited to ₹200–₹300, now frequently exceed ₹1,000 for gold and several thousand rupees for silver, putting both precious metals out of reach for average families. Many investors and customers are left wondering whether this rally will continue or if a correction is imminent.
Bullion Outlook: Prices Poised to Rise Further Before Diwali
According to leading bullion traders and commodity analysts, the surge is not over yet. Market experts forecast that gold could soar to ₹1,20,000 per 10 grams and silver to ₹1,50,000 per kg by Diwali, driven by strong international demand, volatile equity markets, and elevated inflation. The festive season is traditionally associated with increased consumption, adding further momentum to price growth.
While some volatility is expected due to external factors such as tariff disputes (notably US policies under Donald Trump), any downward corrections are expected to be minor and short-lived typically limited to ₹2,000–₹3,000. Overall, the consensus among bullion merchants is that lower prices in the near term are unlikely.
Impact on Middle-Class Buyers and Market Sentiment
The relentless rise in prices has intensified worries for middle-class buyers, who are increasingly priced out of the market for jewelry, coins, and investment gold. Silver, once a popular option for budget gifts and investment, is also becoming less accessible.
Many jewelers report a shift in customer behavior, with fewer purchases and increasing inquiries about price trends and alternatives to gold and silver. Some buyers are postponing planned purchases, hoping for a dip during global market volatility or post-Diwali corrections.
City-Wise Gold and Silver Prices (September 12, 2025)
| City | Gold 24K (per 10g in ₹) | Silver (per kg in ₹) |
|---|---|---|
| Mumbai | 1,09,800 | 1,28,000 |
| Delhi | 1,09,610 | 1,27,780 |
| Chennai | 1,10,120 | 1,28,370 |
| Kolkata | 1,09,660 | 1,27,830 |
Expert Tips for Buyers
- Track daily fluctuations and compare prices across multiple jewelers.
- Ensure purchases of jewelry or coins carry BIS hallmark certification.
- Buy during temporary dips, but expect overall prices to remain elevated through 2025.
With gold and silver at historic highs and no clear signs of a major downturn, analysts urge caution and close monitoring for those considering an investment or festive-season purchase.
