Gold and silver prices rose sharply in the Indian bullion market on Friday amid global uncertainty and increasing geopolitical tensions. Higher investor interest in safe-haven assets was reflected in precious metal prices. In the domestic market, the price of 24-carat gold increased by ₹1,290 per 10 grams to approximately ₹1,43,820 per 10 grams. On Thursday, the price of 24-carat gold stood at around ₹1,42,530 per 10 grams. Silver prices also extended their gains, with the domestic price reaching approximately ₹2.20 lakh per kilogram.
Prices increased across all major gold purity categories in the domestic market. The price of 24-carat gold stood at ₹1,43,820 per 10 grams, while 22-carat gold was priced at ₹1,31,843 per 10 grams and 18-carat gold at ₹1,07,865 per 10 grams.
In the international market, however, gold prices edged lower on Friday. On the COMEX, gold was trading at around $4,152.6 per ounce, down approximately 0.19%. Despite the decline in international prices, domestic gold prices continued to rise. According to experts, movements in the US dollar, global tensions, and increasing investor preference for safe-haven assets are influencing domestic gold prices.'
According to experts, rising global tensions are the primary factor behind the increase in gold prices. Escalating tensions between the United States and Iran have increased uncertainty in financial markets. Reports of military activity and attacks in the Middle East have also heightened investor concerns. In such conditions, investors around the world tend to shift funds from equity markets and other risk-oriented investments into safe-haven assets such as gold.
Historically, demand for gold has increased during periods of war, economic crises, or geopolitical tensions. According to experts, current global conditions are supporting gold prices.
Silver prices also continued to advance. On the COMEX, silver rose approximately 0.12% to $59.09 per troy ounce. In the domestic market, silver prices increased by approximately 1.08% to around ₹2.20 lakh per kilogram.
According to experts, silver is witnessing demand not only as an investment asset but also because of its industrial applications. Growing usage in solar panels, electronics, batteries, and defence equipment is supporting silver prices.
