The commodities market is witnessing a broad-based rally, with gold and silver prices climbing alongside key industrial metals. The rise comes ahead of the festive season, while a weaker US dollar and renewed demand for safe-haven assets are supporting precious metals.
Gold in Delhi moved to a more than five-month high of ₹1,64,400 per 10 grams for 99.9% purity, while silver rose to ₹2,53,500 per kilogram, according to the figures provided.
Gold Price Today: Gold Climbs to ₹1.64 Lakh
Gold prices gained ₹900 on Monday, rising from the previous close of ₹1,63,500 to ₹1,64,400 per 10 grams.
In the international market, gold touched $4,729.70 per ounce. On the domestic MCX, gold gained 1.43% to reach a high of around ₹1,64,758 per 10 grams.
The combination of safe-haven demand and a weaker US dollar has provided fresh support to gold prices.
Silver Price Today: Silver Crosses ₹2.5 Lakh
Silver continued its upward momentum for the third consecutive trading session.
The precious metal gained around ₹3,500 on Monday to reach ₹2,53,500 per kilogram, marking a more than four-month high.
On COMEX, silver touched $69.66 per ounce.
The move means silver has comfortably crossed the ₹2.5 lakh psychological level, adding to the pressure on consumers and industrial users of the metal.
Why Are Gold and Silver Prices Rising?
A key factor behind the recent rally is the weakening US dollar. Since international metal prices are generally denominated in dollars, a weaker dollar can make commodities relatively more attractive to buyers using other currencies.
Gold has also benefited from demand for safe-haven assets amid geopolitical uncertainty. Market participants are now closely watching upcoming inflation data, which could influence expectations for US monetary policy and the future direction of precious metals.
Commodity analyst Manoj Kumar Jain said gold and silver could remain sensitive to the dollar's movement, safe-haven demand and upcoming economic data.
Copper, Aluminium and Zinc Prices Also Rise
The rally is not limited to precious metals. Several industrial metals have recorded significant gains.
Over the past two months:
Copper: up 9.68%
Aluminium: up 4.88%
Zinc: up 15.48%
Over the past year, the reported gains are even more significant:
Copper: up 54.74%
Aluminium: up 38.45%
Lead: up 9.24%
Zinc: up 55.46%
The sharp increase in industrial metal prices could have wider implications for manufacturers and consumers.
Gold and Silver Price Outlook
According to commodity analyst Ankit Kapoor, the outlook for gold remains positive. Gold could potentially move toward ₹1.85 lakh to ₹2.05 lakh per 10 grams over the next 12 to 18 months, while silver could reach ₹2.65 lakh to ₹2.68 lakh per kilogram.
These are market projections, not guaranteed price targets. Investors should consider volatility and their own risk profile before taking any investment decision.
For investors looking to gain exposure to precious metals, Kapoor suggested considering ETFs through staggered investments rather than investing the entire amount at once.
How Rising Metal Prices Could Affect Your Pocket
The impact of higher metal prices extends beyond jewellery and investment products.
Copper, aluminium, zinc, lead and nickel are widely used in electrical appliances, vehicles, construction and power infrastructure. Fans, air conditioners, refrigerators, televisions, washing machines, mixer-grinders and household wiring all rely on metals such as copper and aluminium.
If raw-material costs remain elevated, manufacturers and infrastructure companies could face higher production expenses. A portion of those costs may eventually be passed on to consumers through higher prices.
Higher metal costs could therefore increase expenses for consumer electronics, vehicles, electrical equipment and home construction, potentially adding to broader inflationary pressures.
Gold-Silver Price Today: Key Takeaways
Gold has moved above ₹1.64 lakh per 10 grams, while silver has crossed ₹2.5 lakh per kilogram. At the same time, industrial metals such as copper and zinc have recorded substantial gains over the past year.
The direction of the commodities market will depend on several factors, including the US dollar, inflation data, interest-rate expectations, geopolitical developments and global demand.
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