Gold And Silver Prices Hit Record Highs Ahead Of Diwali – Gold Nears ₹1.26 Lakh, Silver Crosses ₹1.76 Lakh Per Kg
Gold And Silver Prices Hit Record Highs Ahead Of Diwali - Gold Nears ₹1.26 Lakh, Silver Crosses ₹1.76 Lakh Per Kg
Gold and silver prices in India have surged sharply ahead of Diwali, leaving many wondering if now is the right time to buy. On October 14, 2025, both metals touched fresh highs as global economic concerns and a tightening supply pushed prices higher. The rise isn’t limited to India—it’s a worldwide movement driven by trade tensions, central bank buying, and a short supply of silver in global markets.
Key Takeaways
- Gold touched ₹1,25,682 per 10 grams, jumping ₹1,527 overnight.
- Silver rose ₹850 to ₹1,76,175 per kg, marking another strong rally.
- On the MCX, gold futures briefly hit ₹1,26,900 before dropping to ₹1,24,978.
- Global silver prices hit 52.58 per ounce, breaking a 45-year-old record.
- Experts link the surge to global trade tensions, supply crunches, and festive demand.
Gold And Silver Prices In India
According to the India Bullion and Jewellers Association (IBJA), 24-carat gold rose ₹1,527 from Monday’s ₹1,24,155 to ₹1,25,682 per 10 grams. Silver followed the trend, rising from ₹1,75,325 to ₹1,76,175 per kilo.
On the Multi Commodity Exchange (MCX), gold futures saw heavy movement—touching ₹1,26,900 before sliding to ₹1,24,978 by noon. Silver too showed strong activity, climbing past ₹1,62,700 before settling near ₹1,25,083 per kilo, still holding a 4.54 percent gain.
| Purity Level | Monday Close (₹) | Tuesday Morning (₹) | Change (₹) |
|---|---|---|---|
| Gold 999 (24K) | 1,24,155 | 1,25,682 | +1,527 |
| Gold 995 (23K) | 1,23,658 | 1,25,179 | +1,521 |
| Gold 916 (22K) | 1,13,726 | 1,15,125 | +1,399 |
| Gold 750 (18K) | 93,116 | 94,262 | +1,146 |
| Silver 999 | 1,75,325 | 1,76,175 | +850 |
Prices vary slightly by city depending on local demand and taxes. Here’s how rates stood around noon for 24K gold and silver:
- Patna: Gold ₹1,25,280 | Silver ₹1,58,070 (cheapest in India)
- Jaipur: Gold ₹1,25,330 | Silver ₹1,58,130
- Kanpur/Lucknow: Gold ₹1,25,380 | Silver ₹1,58,190
- Bhopal/Indore: Gold ₹1,25,480 | Silver ₹1,58,320 (highest range)
- Chandigarh: Gold ₹1,25,350 | Silver ₹1,58,150
- Raipur: Gold ₹1,25,300 | Silver ₹1,58,090
Global Market Trend
In London, silver broke a 45-year record by touching 52.58 per ounce, surpassing the 1980 Hunt Brothers’ peak. The sharp rally comes amid a severe supply shortage, forcing traders to fly silver bars from New York to London to meet demand. Premiums have touched 1.55 per ounce, while India’s festive buying has further drained inventories, pushing lease rates to 30 percent per month.
Gold prices are also climbing globally, reaching 4,142.95 per ounce, up 55 percent so far in 2025. The surge is supported by heavy central bank purchases and growing expectations of upcoming US Federal Reserve rate cuts.
What’s Driving The Surge?
- Trade Tensions: Ongoing tariff issues between the US and China continue to boost safe-haven demand for gold.
- Monetary Policy: Expected rate cuts by the US Federal Reserve make non-yielding assets like gold more attractive.
- Supply Crunch: Silver’s small market size and rising industrial use in solar panels and EVs have tightened supply, pushing prices up over 53 percent year-on-year.
Experts at Bank of America predict silver could reach 65 per ounce by 2026, while Goldman Sachs expects continued volatility.
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