Gold and Silver Prices Rocket to Record Highs Across India: What’s Fueling the July 2025 Surge?

Jul, 18 2025

Gold and Silver Prices Break Records in Major Indian Cities

If you thought last year’s gold rush was something, July 12, 2025, has set a new bar. Walk into a jewelry shop today and you’ll feel the shock—24-carat gold is selling at ₹98,330 per 10 grams in Delhi. That’s not all. Even if you’re in Mumbai, Chennai, or Hyderabad, expect to pay almost the same. The more common 22-carat gold isn’t far behind, with prices floating around ₹90,150 per 10 grams.

This isn’t a slow climb—these are the highest prices folks have seen at the counter. The story doesn’t end with gold. Silver took off as well. In Bangalore, a kilogram of silver soared to ₹1,15,000, a jump of ₹4,000 in one go. If you prefer smaller portions, 100 grams of silver now costs ₹15,000, which is ₹400 higher than what it was just a day before. Jewelry lovers and investors both are watching these numbers in disbelief.

What’s Moving the Market?

So, what’s behind these dramatic price moves? It’s more than just shiny metals—there’s a lot happening in the world. Market analysts point to rising geopolitical tension, especially after tariff threats from US President Donald Trump. The global financial mood is twitchy, and investors are flocking to safe spots like gold and silver. There’s buzz about a possible shift in US monetary policy, too. Put these pieces together and you get a landscape that pushes gold and silver prices higher, not just in India, but worldwide.

Let’s take a quick look at the Multi Commodity Exchange (MCX), where you get a glimpse of who’s betting on what. The gold futures contract for August 5 closed at ₹97,830, a tiny but steady 0.01% rise from the previous session. Silver, though, stole the spotlight—the September futures contract jumped 3.65%, ending at ₹1,13,111. You can feel the optimism (and nerves) from traders and investors. Those numbers tell you people are still hungry for these metals, despite the high prices.

Nirmal Bang Securities, a name investors trust, suggested picking up gold at ₹96,750 with a stop-loss at ₹96,450, and advised targeting between ₹97,100 and ₹97,400 for potential profits. It’s a cautious play with eyes wide open to sudden drops or spikes. Their call shows just how volatile the market is—profits can come fast, but losses might be right behind them.

On the ground, jewelers in big cities are seeing more footfall—not just from buyers, but from people looking to cash in on their old jewelry. Some investors are waiting for a dip, holding back on big purchases, but there’s definite interest. Silver dealers, especially in Bangalore, say bulk buying is pushing prices up even more. Festivals and wedding season also keep local demand strong, regardless of geopolitical shocks.

It’s not clear how long these high prices will stick around. With international politics, monetary policy shifts, and unpredictable demand, gold and silver are likely to see more rollercoaster action before things settle down. For now, though, India’s gold and silver buffs are facing a market unlike any they’ve seen before.