Gold and Silver Hit Fresh Record Highs in India as Rally Extends

Gold and silver prices in India touched fresh record highs on Friday, with the rally accelerating through the afternoon session as a weaker dollar and falling global bond yields pulled fresh money into precious metals.

What Happened

24-karat gold traded at roughly ₹1,61,030 per 10 grams in the retail market by Friday afternoon, up from around ₹1,59,280 earlier in the day, according to price trackers. Silver moved in step, touching about ₹2,46,670 per kilogram versus roughly ₹2,55,100 (in the higher-priced Chennai/Hyderabad retail bracket) reported earlier in the session, with national averages settling near the ₹2.46-2.47 lakh mark. On the Multi Commodity Exchange, gold futures rose about 0.8% to roughly ₹1,60,700 per 10 grams, touching an intraday high near ₹1,60,950, while silver futures climbed close to 1% to around ₹2,45,552 per kilogram.

Internationally, Comex gold jumped past $4,620 an ounce, a gain of more than 1% on the day, while Comex silver pushed above $68.90 an ounce. Traders pointed to a softer US dollar index and a pullback in Treasury yields as the immediate triggers, both of which tend to make dollar-denominated bullion cheaper and more attractive for buyers holding other currencies.

A Rally With Momentum

Friday's move caps a strong week for both metals. Gold is now up roughly 4% over the past seven days and has gained more than 10% in the past month alone, making this one of its sharpest short-term rallies of the year. Silver has kept pace almost exactly, also up close to 4% on the week, and remains up well over 100% from year-ago levels. Over the past twelve months, gold has climbed more than 60%, underscoring how persistent the safe-haven bid has been through 2026.

City-wise retail rates were largely uniform on Friday, with Delhi, Mumbai, Bengaluru, Kolkata, Hyderabad and Chennai all quoting 24K gold in the ₹1.59-1.61 lakh per 10-gram band, before making room for local making charges and GST. Jewellery retailers' quoted rates typically run a notch below spot bullion prices once purity premiums are adjusted.

Why It's Rising

Several forces are compounding at once. A broad bout of dollar weakness has made gold and silver more attractive to international buyers. Falling global bond yields have reduced the opportunity cost of holding non-yielding assets like bullion. And underlying safe-haven demand, already elevated for weeks amid ongoing US-Iran tensions and wider Middle East uncertainty, has kept a steady bid under both metals even as prices scale new highs.

What to Watch

Market participants said the next moves will likely hinge on incoming US economic data, Federal Reserve rate signalling, and currency swings, all of which could either extend or interrupt the rally. Some analysts flagged that gold and silver hitting records together raises the risk of a short-term pullback, and suggested investors looking to buy stagger purchases across a few sessions rather than committing all at once at current levels.

For now, though, momentum remains firmly with the bulls heading into the weekend, with both metals closing out the week at their highest levels on record in the Indian market.

This article is an original editorial summary based on publicly reported information. It has been independently written for publication and does not reproduce content from any single source.