Gold prices in India recorded a sharp increase on Friday, emerging as a key point of discussion among investors and jewellery buyers. In the national capital, 99.9 per cent purity gold rose by ₹1,800 to ₹1,64,700 per 10 grams.
According to the All India Sarafa Association, the increase was driven primarily by fresh buying from jewellers and stockists. In the previous session on Thursday, gold of 99.9 per cent purity was priced at ₹1,62,900 per 10 grams.
The association said gold had closed at ₹1,62,900 per 10 grams in the last trading session, indicating a single-day rise of ₹1,800.
Market experts attributed the upward movement in prices to global economic and political uncertainties. Factors cited include US trade policies, ongoing tensions in the Middle East, and concerns related to inflation, which have led investors to move toward safe-haven assets. Stability in the US dollar and uncertainty regarding potential changes in interest rates have also influenced gold prices. Gold is traditionally viewed as a safe investment during periods of economic instability.
Silver prices, however, declined in the domestic market. Silver fell from ₹2,70,500 per kilogram to ₹2,68,000 per kilogram, reflecting a decline of approximately 1 per cent.
In the international market, trends were mixed. Spot gold was trading marginally lower at around $5,172 per ounce, while spot silver rose 1.6 per cent to approximately $89.72 per ounce.
