Precious metals continued their bullish run on September 22, 2025, with MCX gold futures crossing the ₹1.10 lakh mark per 10 grams for the first time, and silver prices surging past ₹1.32 lakh per kilogram. The rally is being driven by global economic uncertainty, central bank buying, and strong festive demand across India.
Today’s Price Snapshot
Spot prices in major cities like Delhi, Mumbai, and Chennai also saw similar upward movement, with jewellers reporting increased footfall ahead of Navratri and Diwali.
What’s Driving the Surge?
1. Global Uncertainty
Concerns over U.S. rate cuts, rising oil prices, and geopolitical tensions have pushed investors toward safe-haven assets like gold and silver.
2. Central Bank Buying
Major economies, including China and India, continue to accumulate gold reserves, supporting long-term demand.
3. Festive Demand
Jewellery purchases are picking up across India, with retailers offering pre-Diwali schemes and discounts.
4. Weakening Rupee
The Indian rupee’s recent dip against the dollar has made imported gold more expensive, adding to domestic price pressure.
What This Means for Buyers and Investors
- Jewellery Buyers: Prices may rise further before Diwali—early purchases could save money.
- Investors: Gold ETFs and sovereign gold bonds remain attractive for long-term hedging.
- Traders: Volatility expected—watch for profit-booking and global cues.
- Silver Users: Industrial demand and green tech applications may keep silver prices elevated.
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Final Takeaway
With gold breaching ₹1.10 lakh and silver crossing ₹1.32 lakh, India’s precious metals market is heating up ahead of the festive season. Whether you're buying jewellery or investing for the long term, staying informed and timing your entry could make all the difference.