Why Have Gold Prices Increased Over Rs 6,000 in Just 30 Days?
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Synopsis
Gold prices have seen a dramatic rise of over Rs 6,000 in just 30 days, driven by geopolitical tensions and market uncertainties. This surge is not only affecting gold but also silver, which reached record highs. Discover the factors behind this price surge and what it could mean for investors in precious metals.
Key Takeaways
- Gold prices have surged by over Rs 6,000 in 30 days.
- Geopolitical tensions are a major driving factor.
- Gold futures reached a record high of Rs 1,07,740 per 10 grams.
- Silver also hit a record, with prices at Rs 1,23,207 per kg.
- Market trends suggest ongoing volatility in precious metal prices.
New Delhi, Sep 6 (NationPress) In the past month, gold prices have skyrocketed by over Rs 6,000 per 10 grams in both retail and futures markets, driven by geopolitical tensions. Factors like US President Donald Trump's tariff uncertainties affecting nations such as India, Brazil, and Russia, along with the ongoing conflicts in Ukraine and the Gaza Strip, have contributed to this surge.
On Friday, gold futures (set for October 3 expiry) hit a remarkable peak of Rs 1,07,740 per 10 grams on the Multi-Commodity Exchange (MCX), marking an increase of nearly Rs 6,500 over the previous month. Additionally, the price of 24-carat gold settled at Rs 1,06,338 per 10 grams, up Rs 6,262 from Rs 1,00,076 on August 5, as per the Indian Bullion and Jewellers Association (IBJA).
This week alone, the precious metal's rates ascended by Rs 1,845 for 24-carat purity, and since August 18 (when it was Rs 99,623), it has surged by Rs 6,715 per 10 grams, according to IBJA pricing.
Meanwhile, silver has also reached a new high at Rs 1,23,207 per kg on September 4. On Friday, it closed with a minor dip to Rs 1,23,170 per kg, reflecting a rise of Rs 10,748 from Rs 1,12,422 per kg on August 5.
This week, silver prices remained relatively stable, increasing by Rs 370 from Rs 1,22,800 on September 1.
Both gold and silver have achieved unprecedented highs this week, continuing their upward trend in domestic and international markets.
The Indian Bullion and Jewellers Association (IBJA) reported that on September 4, evening rates showed that the price of 24-carat gold rose from Rs 1,04,424 on Tuesday to Rs 1,06,021 per 10 grams, a daily increase of Rs 1,597.
Despite recent profit-taking ahead of crucial U.S. employment data, the prices of precious metals continued to rise, supported by robust central bank demand and persistent global uncertainties.
Point of View
I observe the significant fluctuations in gold and silver prices, driven by geopolitical tensions and market dynamics. It's crucial for investors to stay informed and navigate these changes strategically, considering both opportunities and risks in the current climate.
NationPress
06/09/2025
Frequently Asked Questions
What caused the recent surge in gold prices?
The surge in gold prices is primarily attributed to geopolitical uncertainties, including tariff concerns from the US and conflicts in Ukraine and Gaza.
How much have silver prices increased recently?
Silver prices have increased significantly, reaching a new high of Rs 1,23,207 per kg, a rise of Rs 10,748 since August 5.
What are the current prices of gold and silver?
As of now, 24-carat gold is priced at Rs 1,06,338 per 10 grams, while silver is at Rs 1,23,170 per kg.
Will gold prices continue to rise?
While current trends indicate a rise, future prices will depend on global economic conditions and geopolitical developments.
How can I invest in gold and silver?
Investing in gold and silver can be done through physical purchases, ETFs, or futures contracts. It’s advisable to consult with a financial advisor.
