Why Did Gold Surge Over Rs 3,000 This Week and Silver Cross Rs 1.17 Lakh?
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Synopsis
This week, gold and silver prices have experienced significant increases, with gold rising over Rs 3,000 and silver crossing Rs 1.17 lakh. Global uncertainties and investor behavior are key factors in this surge. Discover what led to this spike in precious metals and what experts are predicting for the months ahead.
Key Takeaways
- Gold prices surged over Rs 3,000 this week.
- Silver prices crossed Rs 1.17 lakh.
- Global uncertainties are driving demand for precious metals.
- Investors are closely monitoring interest rate decisions.
- Both metals have seen significant price increases since the start of the year.
New Delhi, Aug 31 (NationPress) This week, both gold and silver experienced a significant price increase. The price of gold rose by over Rs 3,000, while silver surged by more than Rs 3,600.
As reported by the India Bullion and Jewellers Association (IBJA), the cost of 10 grams of 24-carat gold now stands at Rs 1,02,388, which is an increase from Rs 99,358 last week, marking a rise of Rs 3,030.
The rate for 22-carat gold has climbed to Rs 93,787 per 10 grams from Rs 91,012, and 18-carat gold has risen from Rs 74,519 to Rs 76,791 per 10 grams.
Simultaneously, silver prices soared by Rs 3,666 to reach Rs 1,17,572 per kilogram, up from Rs 1,13,906.
This uptick in gold and silver prices is attributed to global uncertainties. Measures such as tariffs imposed by US President Donald Trump on various nations have created international instability.
Gold and silver are viewed as safe-haven investments during uncertain times. The combination of increased demand and limited supply has been a driving force behind the recent price hikes.
Experts suggest that September could be pivotal for both metals, with investors keenly observing the US Federal Reserve’s impending meeting regarding potential interest rate adjustments. A decrease in interest rates may further bolster gold prices.
Since the beginning of the year, the price of 10 grams of 24-carat gold has escalated from Rs 76,162 to Rs 1,02,388, a substantial increase of Rs 26,226 or 34.43 percent.
In the same vein, silver has risen from Rs 86,017 per kilogram to Rs 1,17,572, marking an increase of Rs 31,555 or 36.68 percent.
In contrast, last week saw a decline in the prices of these precious metals in the domestic market.
Gold prices fell by more than Rs 600 per 10 grams, while silver decreased by over Rs 1,000 per kilogram during the previous week.
Point of View
I observe that the recent surge in gold and silver prices reflects broader global economic uncertainties. Investors view these metals as safe-haven assets, particularly in times of instability. The trends indicate a growing reliance on precious metals as secure investments, warranting close attention in the coming months.
NationPress
31/08/2025
Frequently Asked Questions
What caused the rise in gold and silver prices?
The increase in gold and silver prices is largely attributed to global uncertainties, including tariffs imposed by the US, which have heightened instability.
How much has gold increased this week?
Gold prices have risen by more than Rs 3,000 this week.
What are experts predicting for the future of gold prices?
Experts suggest that upcoming interest rate decisions from the US Federal Reserve could significantly impact gold prices.
What is the current price of 24-carat gold?
As of now, the price of 10 grams of 24-carat gold is Rs 1,02,388.
How does silver compare to gold in terms of price increase?
Silver has increased by Rs 3,666 this week, marking a significant rise alongside gold.
