Precious metals surge over 33% this year amid global tensions and U.S. tariff impact, IBJA data shows
Economy India: India witnessed a sharp rally in precious metals last week, with gold and silver prices hitting new milestones. According to the India Bullion and Jewellers Association (IBJA), the price of 24-carat gold surged by ₹2,689 over the week to close at ₹1,00,942 per 10 grams, compared to ₹98,253 on August 1.
Silver also recorded a significant gain, jumping ₹5,086 to settle at ₹1,14,732 per kilogram, up from ₹1,09,646 at the start of the week. On August 8, gold touched an all-time high of ₹1,01,406 per 10 grams, while silver had earlier hit ₹1,15,850 on July 23.
City-wise Gold Prices (per 10 grams):
- Delhi: 24-carat ₹1,03,460 | 22-carat ₹94,850
- Mumbai: 24-carat ₹1,03,310 | 22-carat ₹94,700
- Kolkata: 24-carat ₹1,03,310 | 22-carat ₹94,700
- Chennai: 24-carat ₹1,03,310 | 22-carat ₹94,700
- Bhopal: 24-carat ₹1,03,360 | 22-carat ₹94,750
Outlook:
Ajay Kedia, Director at Kedia Advisory, attributes the rally to ongoing geopolitical tensions and U.S. tariff policies, which have boosted gold demand globally. He projects gold could reach ₹1,04,000 per 10 grams and silver ₹1,30,000 per kilogram before year-end.
Year-to-Date Performance:
- Gold: Up ₹24,780 (+32.54%) from ₹76,162 (Dec 31, 2024) to ₹1,00,942 (Aug 8, 2025)
- Silver: Up ₹28,715 (+33.38%) from ₹86,017 to ₹1,14,732
Buying Tip:
Always purchase BIS-certified gold with a 6-digit Hallmark Unique Identification Number (HUID), which verifies the purity and carat level.
(Economy India)
