Gold and silver prices rose sharply in the commodity market on Thursday morning. Silver approached Rs 2.71 lakh per kilogram, while gold traded near Rs 1.62 lakh per 10 grams.
Market participants said rising geopolitical tensions at the international level have increased investor preference for safe-haven assets. The ongoing war situation in the Middle East has added to uncertainty in global markets. In such an environment, precious metals such as gold and silver are traditionally considered safe-haven investments. As a result, both metals have recorded gains over the past two days.
Silver Prices Approach Rs 2.71 Lakh Per Kilogram
At around 10 a.m. on Thursday, silver prices in the commodity market rose by more than Rs 5,000 per kilogram. The price of one kilogram of silver reached approximately Rs 2,71,098, registering an increase of about Rs 5,538 per kilogram.
Strong buying was also observed in silver futures trading. In the May delivery contract, prices had risen by about 2.09 percent by 10 a.m. During the trading session, silver recorded a low of Rs 2,69,900 per kilogram and a high of Rs 2,74,251 per kilogram.
Market observers said the increase in silver prices is primarily driven by higher investor demand. When global uncertainty rises, investors tend to reduce exposure to riskier assets and move toward precious metals, contributing to gains in silver prices.
Gold Prices Also Record Gains
Alongside silver, gold prices also registered gains on Thursday morning. At around 10 a.m., the price of 10 grams of gold reached approximately Rs 1,62,184, marking an increase of about Rs 659 per 10 grams.
During the day’s trading session, gold recorded a low of Rs 1,62,108 per 10 grams and a high of Rs 1,63,142 per 10 grams, indicating sustained demand in the market.
According to market experts, investors typically consider gold among the safest investment options during periods of international tension. As a result, increases in global market volatility are often accompanied by higher gold prices.
Middle East Tensions Influence Precious Metals
The rise in gold and silver prices has been attributed in part to escalating conflict in the Middle East. International conflicts or political tensions generally increase volatility in global financial markets.
In such circumstances, investors often shift toward safe assets to preserve capital. Gold and silver are traditionally viewed as safe investments, leading to higher demand during periods of geopolitical tension.
Experts said that if international tensions persist for an extended period, further fluctuations in gold and silver prices may be observed in the coming days.
Gold Prices Across Cities
Gold prices showed minor variations across cities in India due to differences in local taxes, demand, and market conditions.
In Patna, the price of 10 grams of gold was approximately Rs 1,61,990. In Jaipur, gold traded near Rs 1,62,060 per 10 grams. In Kanpur and Lucknow, prices were around Rs 1,62,120 per 10 grams.
In Bhopal and Indore, the price of gold was approximately Rs 1,62,250 per 10 grams. In Chandigarh, gold was priced near Rs 1,62,080, while in Raipur it was around Rs 1,62,020 per 10 grams.
Silver Prices Across Cities
Silver prices also showed slight differences across cities. In Patna, the price of 1 kilogram of silver was approximately Rs 2,68,580. In Jaipur, silver traded at around Rs 2,68,680 per kilogram.
In Kanpur and Lucknow, silver prices were about Rs 2,68,790 per kilogram. In Bhopal and Indore, the price of silver was approximately Rs 2,69,000 per kilogram.
In Chandigarh, silver was priced near Rs 2,68,720 per kilogram, while in Raipur the price was approximately Rs 2,68,610 per kilogram.
City Comparison of Gold and Silver Prices
A comparison across cities showed that both gold and silver prices were lowest in Patna, where 10 grams of gold was priced at approximately Rs 1,61,990 and 1 kilogram of silver at about Rs 2,68,580.
In contrast, Bhopal and Indore recorded relatively higher prices, with gold at around Rs 1,62,250 per 10 grams and silver at approximately Rs 2,69,000 per kilogram.
