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Gold prices climbed ₹250 to scale yet another peak of ₹1,13,000 per 10 grams in the national capital on Wednesday (September 10, 2025), buoyed by robust buying by central banks globally, a weak dollar, and lingering geopolitical uncertainties.
So far this year, the precious metal prices have added ₹34,050 or 43.12%, surging from ₹78,950 per 10 grams on December 31, 2024.
According to the All India Sarafa Association, the precious metal had closed at ₹1,12,750 per 10 grams, rallying by ₹5,080 on Tuesday (September 9, 2025).
On Wednesday gold of 99.5% purity also appreciated by ₹250 to hit a lifetime high of ₹1,12,500 per 10 grams (inclusive of all taxes).
“Gold continues to trade near record highs, supported by a weakening U.S. dollar index, which has slipped to a seven-week low, and growing expectations of aggressive rate cuts in the coming months.
“Additional strength has come from retreating U.S. Treasury yields and rising geopolitical tensions in the Middle East region, though much of this appears to be already priced in,” said Chintan Mehta, CEO at Abans Financial Services.
Meanwhile, silver prices retreated from record levels, declining by ₹300 to ₹1,28,500 per kg (inclusive of all taxes) on Wednesday. In the previous session, the white metal had settled at ₹1,28,800 per kg, as per the Association.
In overseas markets, spot gold was trading 0.85% higher at $3,657.09 per ounce. The yellow metal had surged to hit a fresh peak of $3,674.75 per ounce on Tuesday.
“The U.S. Federal Reserve policy outlook, central bank accumulation globally, geopolitical tensions, ETFs and institutional flows remain the key drivers behind the rally for the precious metal,” N.S. Ramaswamy, head of commodity desk and CRM at Ventura, said.
Mr. Ramaswamy further said: “Gold is turning out to be the main course, serving hot, in one’s portfolio.
New fresh highs are in the face of a fresh political crisis in France, Japan and the U.S. sanctions against Russia, he added.
Also, interest rate cuts bets have intensified after a weaker-than-expected U.S. jobs report on Friday (September 5, 2025).
Spot silver rose 0.88% to $41.23 per ounce.
Market participants will closely monitor U.S. macroeconomic data including the Producer Price Index to be release later in the day and Consumer Price Index on Thursday (September 11, 2025), which may have a bearing on the Fed rate cut decisions and sentiment for the bullion prices in the near-term, Mr. Ramaswamy added.
Published – September 10, 2025 05:47 pm IST
