Gold Prices Hit Record ₹1,26,000 per 10g Amid Global Turmoil; Silver Nears ₹1.57 Lakh

New Delhi, October 9, 2025: Gold prices continued their upward streak for the third consecutive session on October 9, with rates soaring by ₹2,000 to hit a fresh lifetime high of ₹1,26,000 per 10 grams in Delhi, as of 10:05 AM. The surge is driven by strong global cues, as investors increasingly turn to safe-haven assets amid renewed geopolitical tensions in the Middle East. Adding to the momentum, the ongoing U.S. government shutdown has heightened concerns over potential economic repercussions, further boosting demand for gold

Gold Has Gained ₹6,000 in the Last Three Days

Over the past three sessions, gold prices have surged by ₹6,000, marking a sharp upward trend. According to the All India Sarafa Association, gold of 99.9% purity settled at ₹1,24,000 per 10 grams on Wednesday, following gains of ₹700 on Tuesday and ₹2,700 on Monday. On Thursday, the 99.5% purity variety advanced by a further ₹2,000, reaching ₹1,26,000 per 10 grams, inclusive of taxes. So far in 2025, spot gold prices have jumped by ₹47,650, or 60.35%, compared with ₹78,950 per 10 grams at the end of 2024.

Global Gold Surges Past $4,000 In The International Market

In international markets, spot gold broke the $4,000 per ounce mark for the first time, reaching $4,049.59, while silver rose over 2% to $49.07 per ounce. The rally is being mainly supported by strong buying from central banks, steady inflows into gold-backed ETFs, and expectations of Federal Reserve rate cuts.

Silver Follows With Strong Momentum

Silver prices also witnessed a sharp rise, climbing by ₹3,000 to trade near their record high of ₹1,57,000 per kilogram. The metal had closed at ₹1,54,000 per kilogram in the previous session and had touched its lifetime peak of ₹1,57,400 earlier this week.

On a year-to-date basis, silver has rallied by ₹67,300, or 75.03%, from ₹89,700 per kilogram as recorded on 31 December 2024.

Futures Slightly Decline On MCX

On the Multi Commodity Exchange (MCX), gold futures for December delivery fell by ₹114.00 (0.09%) to ₹1,23,095 per 10 grams. The February 2026 contract also slipped ₹58.00 (0.05%) to reach ₹1,24,476 per 10 grams.

Similarly, silver futures for December delivery also fell ₹1016 (0.68%) to ₹1,48,839 per kilogram, while the March 2026 contract also slipped ₹896 (0.59%) to ₹1,50,601 per kilogram.

HDFC Securities: Rally Driven By Strong Safe-Haven Demand

According to HDFC Securities, bullion’s rally continues to be driven by strong safe-haven demand, heavy central bank purchases, and renewed optimism from global investment banks. Analysts noted that with spot gold now above $4,000 per ounce, the precious metal remains well-positioned for further upside if geopolitical and economic uncertainties persist.

The sustained surge in gold and silver underscores deep investor caution worldwide, with markets awaiting cues from upcoming Federal Reserve remarks and the release of FOMC meeting minutes later in the day.

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