Gold Price Jumps ₹1,000 To ₹1.48 Lakh Per 10 Grams

Gold prices in the national capital rose by ₹1,000 to ₹1.48 lakh per 10 grams on Thursday, driven by fresh buying by jewellers and retailers. This increase was also influenced by firm global trends.

The price of gold with 99.9 per cent purity had closed at ₹1.47 lakh per 10 grams in the preceding session. However, silver prices dropped by ₹600 to ₹2,24,700 per kilogram, inclusive of all taxes, from Wednesday's closing level of ₹2,25,300 per kg.

Traders attributed the rise in domestic gold prices to improved demand from jewellers and stockists. However, a stronger rupee capped further gains. According to Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, gold advanced on Thursday amid a pullback in the US dollar following the Federal Reserve's latest policy announcement, increasing demand for the precious metal.

In international markets, spot gold traded marginally higher at USD 4,071.55 per ounce, and silver rose 1 per cent to USD 58.25 per ounce. Kaynat Chainwala, AVP, Commodity Research at Kotak Neo, noted that precious metals are likely to stay volatile and range-bound in the near term.

India's gold demand fell 6 per cent year-on-year to 131.4 tonnes in April-June, weighed down by seasonally subdued sales, higher customs duty, and Prime Minister Narendra Modi's appeal to reduce purchases of the precious metal. The total demand stood at 139.7 tonnes during the corresponding period last year, according to the World Gold Council.

Global gold demand remained flat year-on-year at 1,269 tonnes in the April-June quarter. The total demand for the yellow metal stood at 1,268.6 tonnes during the corresponding quarter of 2025.

The rise in gold prices can be attributed to a combination of factors, including fresh retail buying, firm global trends, and a pullback in the US dollar. However, the stronger rupee and subdued sales due to higher customs duty have capped further gains.

The gold market is expected to remain volatile in the near term, with traders keeping a watch on the trajectory of the US-Iran conflict for the medium-term outlook. The growth, labour, and inflation numbers are also expected to shape the case for a September move.

In conclusion, the rise in gold prices is a significant development in the precious metals market. The combination of fresh retail buying, firm global trends, and a pullback in the US dollar has driven gold prices up. However, the stronger rupee and subdued sales due to higher customs duty have capped further gains.

The gold market is expected to remain volatile in the near term, and traders will be closely watching the developments in the global economy and the US-Iran conflict. The growth, labour, and inflation numbers will also play a crucial role in shaping the case for a September move.

Overall, the rise in gold prices is a significant development that will be closely watched by traders and investors in the precious metals market. The volatility in the market is expected to continue in the near term, and traders will need to stay informed about the latest developments to make informed decisions.

The World Gold Council's report on gold demand provides valuable insights into the trends in the precious metals market. The report highlights the factors that have influenced gold demand, including seasonally subdued sales, higher customs duty, and Prime Minister Narendra Modi's appeal to reduce purchases of the precious metal.

In the context of the Indian economy, the rise in gold prices is significant. Gold is an important commodity in India, and changes in its price can have a significant impact on the economy. The stronger rupee and subdued sales due to higher customs duty have capped further gains, but the fresh retail buying and firm global trends have driven gold prices up.

The gold market is expected to remain volatile in the near term, and traders will need to stay informed about the latest developments to make informed decisions. The growth, labour, and inflation numbers will also play a crucial role in shaping the case for a September move.

In conclusion, the rise in gold prices is a significant development in the precious metals market. The combination of fresh retail buying, firm global trends, and a pullback in the US dollar has driven gold prices up. However, the stronger rupee and subdued sales due to higher customs duty have capped further gains. The gold market is expected to remain volatile in the near term, and traders will need to stay informed about the latest developments to make informed decisions.

What it means for Mumbai is that the rise in gold prices will have a significant impact on the local economy. The city is a major hub for gold trading, and changes in gold prices can have a significant impact on the local market. The stronger rupee and subdued sales due to higher customs duty have capped further gains, but the fresh retail buying and firm global trends have driven gold prices up.

The rise in gold prices is also expected to have an impact on the local jewellery market. The increase in gold prices will make jewellery more expensive, which could affect sales. However, the fresh retail buying and firm global trends have driven gold prices up, which could also lead to an increase in demand for jewellery.

In conclusion, the rise in gold prices is a significant development that will have a significant impact on the local economy in Mumbai. The combination of fresh retail buying, firm global trends, and a pullback in the US dollar has driven gold prices up. However, the stronger rupee and subdued sales due to higher customs duty have capped further gains. The gold market is expected to remain volatile in the near term, and traders will need to stay informed about the latest developments to make informed decisions.