Gold and silver prices in India surged sharply on Friday, delivering a fresh shock to common buyers. After offering brief relief on Thursday, precious metal rates jumped again within a day. The sudden rise erased hopes of affordable purchases for households and small investors.
On Friday morning, gold prices climbed aggressively across domestic markets. The rate of 24-carat gold reached ₹1,60,710 per 10 grams around 11 AM. At the same time, 22-carat gold traded close to ₹1,46,400 per 10 grams. The sharp rise came after prices dipped slightly a day earlier, which had encouraged buyers to wait.
Silver prices moved even faster than gold. The cost of one kilogram of silver shot up to ₹3,60,000, marking a massive single-day jump. On Thursday, silver prices had softened briefly, raising expectations of stability. However, the sudden spike on Friday surprised traders and customers alike.
Market experts say global factors are driving the rally. The weakening of the US dollar has pushed investors toward safe-haven assets. At the same time, uncertainty surrounding the appointment of a new US Federal Reserve chairman has increased volatility in global markets. These developments have boosted demand for gold and silver worldwide.
Domestic demand has also played a role. Wedding season purchases and festive buying continue to support prices despite high rates. Traders note that even limited buying pressure now triggers sharp movements due to tight supply and global uncertainty.
Jewellery buyers remain cautious as prices stay near record highs. Many households have postponed purchases, hoping for a correction in the coming weeks. However, analysts warn that prices may remain elevated if global signals stay unchanged.
Investment advisors suggest that long-term investors avoid panic buying at peak levels. Instead, they recommend staggered purchases or waiting for clearer signals from global markets. Short-term volatility, they say, could continue in the coming days.
With both gold and silver hitting new highs, common buyers feel the pressure once again. The brief relief seen earlier this week has vanished, reinforcing concerns that precious metals may soon move further out of reach.
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