Mumbai–Gold and silver prices skyrocketed to historic highs on Monday, as a surge in global demand for safe-haven assets fueled a dramatic rally in both domestic and international bullion markets.
According to the India Bullion and Jewellers Association (IBJA), 24-carat gold jumped by an astonishing ₹2,630 to reach a new all-time high of ₹1,24,155 per 10 grams, up from ₹1,21,525 recorded on Friday. 22-carat gold climbed to ₹1,13,726, while 18-carat gold prices rose to ₹93,116 per 10 grams.
Silver followed suit with a record-breaking leap of ₹10,825, soaring to ₹1,75,325 per kilogram—the highest level ever recorded—up from ₹1,64,500 in the previous trading session.
Bullion Futures Also Soar
The surge extended into the futures market as well. On the Multi-Commodity Exchange (MCX):
Gold futures (for delivery on December 5, 2025) rose 2.21% to ₹1,24,043
Silver futures for the same delivery date surged 4.39% to ₹1,52,900
Global Market Surge
On the international stage, the rally was just as dramatic:
Gold on Comex climbed 2.50% to hit $4,100 per ounce
Silver surged 5.88% to $50.02 per ounce
These are some of the highest prices seen globally, reflecting growing economic and geopolitical uncertainty that continues to boost investor appetite for precious metals.
What’s Driving the Rally?
Analysts say the rally is being driven by a renewed wave of global risk aversion. The re-escalation of US-China trade tensions—marked by Washington’s announcement of a 100% tariff hike on select Chinese imports and Beijing’s threat to limit rare earth exports—has rattled markets worldwide.
“Gold prices opened sharply higher with a strong gap-up of ₹2,000, trading above ₹1,23,200 per 10 grams, as renewed US-China trade tensions reignited safe-haven demand,” said Jateen Trivedi, VP and Research Analyst – Commodity and Currency at LKP Securities.
“This geopolitical tension, along with sustained demand from investors seeking safety, continues to keep gold’s outlook bullish,” he added.
Investor Sentiment Shifts
With inflation fears, central bank policy uncertainty, and geopolitical flashpoints piling up, precious metals are increasingly becoming the go-to hedge for investors. The current rally, analysts suggest, reflects a shift in global sentiment towards capital preservation.
Bullion dealers across the country reported brisk demand despite soaring prices, as consumers and institutional buyers scrambled to secure positions amid fears of further price escalation.
