Gold and silver prices soared to unprecedented levels on Friday, driven by robust global demand and mounting expectations of a US Federal Reserve interest rate cut. The precious metals rally continues to gain momentum amid favorable macroeconomic conditions.
In the national capital, 99.9% purity gold reached ₹1,13,800 per 10 grams, while silver crossed the ₹1,32,000 per kilogram milestone, according to the All India Sarafa Association (AISA).
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Current Precious Metal Rates
| Metal | Purity | Current Price | Previous Price | Daily Change |
|---|---|---|---|---|
| Gold | 99.9% | ₹1,13,800/10g | ₹1,13,100/10g | +₹700 |
| Gold | 99.5% | ₹1,13,300/10g | ₹1,12,600/10g | +₹700 |
| Silver | Standard | ₹1,32,000/kg | ₹1,28,000/kg | +₹4,000 |
| Gold (International) | Spot | $3,646.69/oz | – | +0.35% |
| Silver (International) | Spot | $42.31/oz | – | +1.82% |
Gold’s Stellar Performance Continues
Gold extended its winning streak for the fourth consecutive session, marking another lifetime peak. The yellow metal gained ₹700 from the previous session’s ₹1,13,100 per 10 grams.
The impressive 2025 performance shows gold has surged ₹34,850 or 44.14% year-to-date, rising from ₹78,950 per 10 grams on December 31, 2024. This exceptional growth reflects strong investor confidence and economic uncertainty.
Fed Rate Cut Expectations Drive Rally
Market analysts attribute the precious metals surge to recent US macroeconomic data suggesting potential Federal Reserve interest rate cuts. Lower interest rates typically reduce the opportunity cost of holding non-yielding assets like gold.
Saumil Gandhi, Senior Analyst at HDFC Securities, explained that heightened expectations of multiple Fed rate cuts before 2025’s end have encouraged significant bullion buying activity among investors.
Silver’s Dramatic Recovery
Silver demonstrated remarkable strength, rebounding ₹4,000 from ₹1,28,000 per kg and breaking its two-day losing streak. The white metal has posted even stronger gains than gold this year.
Silver’s 2025 performance shows a massive ₹42,300 or 47.16% increase, climbing from ₹89,700 per kilogram at 2024’s end. Industrial demand and strong ETF inflows continue supporting silver’s upward trajectory.
International Market Dynamics
Global precious metals markets mirror domestic trends with spot gold rising 0.35% to $3,646.69 per ounce. Spot silver outperformed with a 1.82% gain to $42.31 per ounce.
Jateen Trivedi from LKP Securities noted that gold continues enjoying a premium driven by tariff uncertainty and de-dollarisation themes, despite being in technically overbought territory.
Market Outlook and Expert Views
Praveen Singh from Mirae Asset ShareKhan expects gold to maintain its positive bias, though strong risk appetite is moderating safe-haven demand. The balance between economic optimism and uncertainty continues influencing precious metals pricing.
Chintan Mehta, CEO of Abans Financial Services, emphasized that investors should monitor the Federal Reserve’s tone, US labor market data, and geopolitical risks. These factors could drive further volatility in both gold and silver markets.
Investment Implications
The current rally presents both opportunities and challenges for investors. While the strong uptrend continues, elevated prices may limit new entry points for value-conscious buyers.
Long-term investors may benefit from systematic investment approaches, while short-term traders should remain cautious of potential corrections from these historically high levels.
The precious metals’ performance underscores their continued role as portfolio diversifiers and inflation hedges during uncertain economic times.
Frequently Asked Questions
Q: What is today’s gold rate for 99.9% purity?
A: Gold (99.9% purity) is trading at ₹1,13,800 per 10 grams in Delhi.
Q: How much has silver gained this year?
A: Silver has surged ₹42,300 or 47.16% in 2025, reaching ₹1,32,000 per kg.
Q: What factors are driving precious metals prices higher?
A: Fed rate cut expectations, global demand, and economic uncertainty are key drivers.
