Gold Soars to Record Rs 1,16,200 per 10 Grams, Silver Hits All-Time High in Delhi Bullion Market
New Delhi, September 22 – Gold prices surged by Rs 2,200 on Monday to reach an unprecedented Rs 1,16,200 per 10 grams in the national capital, buoyed by strong global cues. Investors are awaiting key policy signals from US Federal Reserve officials, which are expected to influence market trends in the coming days.
According to the All India Sarafa Association, gold of 99.9 percent purity had closed at Rs 1,14,000 per 10 grams on Friday. In the local bullion market, gold of 99.5 percent purity jumped by Rs 2,150 to settle at a record Rs 1,15,650 per 10 grams, compared with Rs 1,13,500 in the previous session.
Soumil Gandhi, Senior Commodity Analyst at HDFC Securities, said that domestic bullion prices are mirroring the bullish global trend, with both gold and silver trading at record levels. He noted that dovish signals from the Federal Reserve suggest the possibility of two more interest rate cuts by the end of the year. Such a move would likely limit gains in the US dollar and bond yields, while providing further support to precious metal prices.
Apart from expectations of monetary easing, robust inflows into exchange-traded funds and continued demand from central banks have also contributed to the surge. So far this calendar year, gold prices have risen by Rs 37,250 per 10 grams, or 47.18 percent, compared with Rs 78,950 per 10 grams on December 31, 2024.
Silver prices also witnessed a steep rise, climbing by Rs 4,380 to touch an all-time high of Rs 1,36,380 per kilogram in the capital’s bullion market. On Friday, silver had closed at Rs 1,32,000 per kilogram. Since the beginning of 2025, silver has gained Rs 46,680 per kilogram, or 52.04 percent, from its closing price of Rs 89,700 on December 31, 2024.
Globally, spot gold rose by more than one percent to hit a record level of 3,728.43 dollars per ounce. Kainat Chanwala, Associate Vice President for Commodity Research at Kotak Securities, said investors are looking ahead to remarks from several Federal Open Market Committee officials later in the day and a key speech by Federal Reserve Chairman Jerome Powell on Tuesday. As per agency report, these expectations have fueled the rally, driving spot gold to its new all-time high.
