Patna: Gold and silver prices touched fresh all-time highs on December 29, marking the fifth consecutive trading session of gains, as investors continued to seek safety and hedge against global uncertainty.
According to the India Bullion and Jewellers Association, the price of 10 grams of gold rose by Rs 205 to Rs 1,38,161, compared with Rs 1,37,956 in the previous session. Silver prices surged even more sharply, jumping by Rs 15,376 to Rs 2,43,483 per kg from Rs 2,28,107.
The rally has capped a remarkable year for precious metals. Since the end of December last year, gold prices have climbed by Rs 61,999, rising from Rs 76,162 per 10 grams to current levels. Silver has seen an even steeper rise, gaining Rs 1,57,466 over the same period, up from Rs 86,017 per kg to Rs 2,43,483.
Market analysts point to several global factors behind the sustained rise in gold prices. A weakening US dollar, following interest rate cuts by the Federal Reserve, has lowered the opportunity cost of holding non-yielding assets such as gold. Ongoing geopolitical tensions, including the Russia–Ukraine war and broader global instability, have reinforced gold’s status as a safe-haven investment. At the same time, central banks — particularly in China — have continued to accumulate gold reserves, with global purchases estimated at more than 900 tonnes this year.
Silver’s rally has been fuelled by a different but equally powerful set of drivers. Industrial demand has surged as silver plays a growing role in solar panels, electronics and electric vehicles. Fears of higher US tariffs have reportedly prompted companies to stockpile silver, tightening global supply. Manufacturers, wary of potential disruptions, are buying in advance, adding further upward pressure on prices.
A bullion market expert said demand for silver remained robust and was likely to stay strong in the coming months. He said silver prices could rise to around Rs 2.10 lakh per kg by the end of this year and potentially reach Rs 2.75 lakh per kg next year if current trends continue.
Gold prices, he added, also remain on a strong footing. With investor demand holding firm, analysts say the metal could cross Rs 1.50 lakh per 10 grams next year, barring any sharp reversal in global economic conditions.
For now, traders expect volatility but little immediate relief for buyers, as bullion markets continue to reflect uncertainty in the global economy.
