On August 8, 2025, in the international market, gold futures were trading at a new all-time high of 3,487.90/ounce up 2.6 percent on the previous day close price at the spot market of 3,400.30. Gold prices have increased by 46.3 percent in the last one year. In India, gold is priced at around 1,00,800 per 10 grams out on MCX and silver at 1,13,300 per kilogram. The prices are slightly different in different cities as Delhi charges 59.500 and 64.900 rupees (22 and 24-carat gold per 10 grams respectively).
The primary force behind this rush is the US move to impose tariff on 1 kilogram and 100 ounce imported gold bars, which may impact imports in key refining centers such as Switzerland, London and Hong Kong. Uncertainty in interest rates across the globe, geopolitical tensions and high central bank demand are other reasons. Industrial consumption and safe-haven purchases are behind the silver rally.
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The appreciation in the prices of gold and silver illustrates the fact that the policy decisions of the world can have a direct impact on the local markets, opening up opportunities as well as risks to investors.
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