Blitz Bureau
NEW DELHI: Gold and silver prices continued their upward march this week, scaling fresh all-time high as concerns over US tariffs and heightened geopolitical tensions kept safe-haven demand strong. According to data from the Indian Bullion and Jewellers Association (IBJA), 24-carat gold closed at Rs 1,09,707 per 10 grams on Friday, registering a sharp gain of Rs 1,670 from September 8s level of Rs 1,08,037. The rally pushed gold prices firmly above the Rs 1 lakh mark throughout September, with rates standing at Rs 1,04,075 on September 1.
Similarly, 22-carat gold prices also surged, ending the week at Rs 1,00,492 per 10 grams, compared to Rs 98,962 at the beginning of the week. Silver mirrored gold’s bullish momentum. The metal ended the week at Rs 1,28,008 per kilogram, higher by Rs 3,595 from Monday’s Rs 1,24,413. Silver has also maintained its stronghold above the Rs 1.20 lakh level so far this month, underscoring robust investor appetite.
On the futures front, gold contracts with October 3 expiry settled at Rs 1,09,356 per 10 grams on Friday, up 0.34 per cent, reflecting sustained optimism in the bullion market. Global cues further strengthened the trend. On the international stage, Comex gold traded at $3,680.7 per ounce, extending gains as traders sought refuge in the precious metal amid ongoing economic and political uncertainties. Analysts suggest the rally could continue in the near term, supported by persistent geopolitical risks, a weak global economic outlook, and lingering tariff concerns. For Indian investors, the sharp rise in gold and silver prices reinforces the role of bullion as a safe-haven asset during times of volatility.
