Gold and Silver Prices Skyrocket Amid Festive Rush and Market Volatility

Gold and silver prices have reached all-time highs in the national capital. This surge is driven by increased festive demand, supply constraints, and a weaker rupee. The geopolitical climate and U.S. fiscal concerns are further fueling international market volatility, impacting domestic pricing trends.

On Tuesday, gold prices soared by Rs 2,850, reaching an unprecedented high of Rs 1,30,800 per 10 grams in India's capital, as retailers and jewellers engage in heavy festive buying ahead of 'Dhanteras'.

The All India Sarafa Association reported that the precious metal, with 99.9 per cent purity, had previously closed at Rs 1,27,950 per 10 grams on Monday. Meanwhile, gold of 99.5 per cent purity similarly hit a record high.

This year's gold prices have risen by an astonishing Rs 51,850, or 65.67 per cent, highlighting a significant upward trend fueled by geopolitical tensions, robust domestic investment demand, and a depreciating rupee.