Did Gold Surge Over Rs 700 This Week, While Silver Surpasses Rs 1.12 Lakh?
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Synopsis
Gold and silver prices have surged this week, with gold rising over Rs 700 and silver surpassing Rs 1.12 lakh. This surge is attributed to growing global uncertainties, pushing investors towards these safe-haven assets. Analysts suggest that the upcoming week will be crucial for market directions.
Key Takeaways
- Gold prices rose by Rs 732 this week.
- Silver prices increased by Rs 5,120.
- 24-carat gold now costs Rs 98,243.
- Silver is close to its all-time high of Rs 1,13,867.
- Global uncertainties are driving demand for these metals.
New Delhi, July 20 (NationPress) This week, both gold and silver experienced significant increases as global uncertainties drove investors toward safe-haven assets.
The price of gold rose by over Rs 700 per 10 grams, while silver skyrocketed by more than Rs 5,100 per kilogram.
As per the data from the India Bullion and Jewellers Association (IBJA), the cost of 24-carat gold increased to Rs 98,243 per 10 grams, up from Rs 97,511 a week prior—an uptick of Rs 732.
In addition, the price of 22-carat gold rose from Rs 89,320 to Rs 89,991 per 10 grams.
18-carat gold also experienced a modest rise, climbing from Rs 73,133 to Rs 73,682 per 10 grams within the same timeframe.
On the other hand, silver saw an even more dramatic surge. The white metal gained Rs 5,120, escalating its price from Rs 1,07,580 to Rs 1,12,700 per kilogram.
Currently, silver is approaching its all-time high of Rs 1,13,867 per kilogram, which was recorded on July 14.
Market analysts link this price surge to the rising global uncertainties. Recent tariff announcements by US President Donald Trump have intensified geopolitical and economic tensions globally.
Pranav Mer, Vice President of EBG - Commodity and Currency Research at JM Financial Services, noted that in the upcoming week, the focus will be on the trade negotiation outcomes, speeches from Fed officials, and US macroeconomic data, including the housing market, weekly initial claims, and durable goods orders.
"Gold prices have been consolidating within a range for the past couple of weeks due to a lack of fresh triggers and a recovery in the US Dollar during this period," said Mer.
Both gold and silver are traditionally viewed as safe investments during periods of instability. As uncertainties rise, demand for these metals increases, while supply remains fairly constrained, pushing prices higher.
Since the start of the year, the price of 24-carat gold has surged from Rs 76,162 to Rs 98,243 per 10 grams—a remarkable increase of Rs 22,081 or nearly 29 percent.
Silver has outperformed gold, rising by Rs 26,683 or 31 percent, moving from Rs 86,017 to Rs 1,12,700 per kilogram.
Point of View
It's important to understand that the recent increases in gold and silver prices reflect not just local market trends, but also broader global economic conditions. This week’s rally underscores the role of uncertainty in driving investors towards these traditional safe-haven assets.
NationPress
20/07/2025
Frequently Asked Questions
What caused the rise in gold and silver prices this week?
The rise in gold and silver prices this week can be attributed to escalating global uncertainties and geopolitical tensions, leading investors to seek safe-haven assets.
How much did gold prices increase this week?
Gold prices increased by more than Rs 700 per 10 grams this week.
What is the current price of 24-carat gold?
The current price of 24-carat gold is Rs 98,243 per 10 grams.
How much did silver prices rise this week?
Silver prices surged over Rs 5,100 per kilogram this week.
What factors are analysts watching in the upcoming week?
Analysts will focus on trade negotiations, Fed official speeches, and key US macroeconomic data, including housing market reports and durable goods orders.
