Gold, Silver Rally Continues: Precious Metals Reach All-Time High Ahead of Dhanteras

Gold and silver prices extended their upward rally on October 14, driven by escalating tensions between the US, China and the ongoing US government shutdown and massive demand-supply troubles.

The price of 24-karat gold in India surged by ₹3,280 in a single day to reach ₹1,25,400 per 10 grams, moving closer to the ₹1.3 lakh mark — a 2.7% jump from the previous day.

Similarly, 22-karat gold rose by ₹3,000 to ₹1,17,950 per 10 grams, while 18-karat gold climbed by ₹2,460 to ₹96,510 per 10 grams, marking daily gains of around 2.6%.

In Hyderabad, the yellow metal’s price increased from ₹11,940 on October 5 to ₹12,868 on October 14, a rise of ₹928 or 7.8% in nine days. Over the past month, gold prices in the city have surged from ₹11,117 per gram on September 14 to ₹12,868, reflecting a 15.7% monthly increase.

Meanwhile, silver prices also witnessed a sharp rally, touching a record ₹1,89,000 per kilogram on October 14. In global markets, the white metal approached an all-time high of $53 an ounce, as a historic short squeeze in London and surging safe-haven demand fueled the rally.

A closer look shows that silver prices have jumped from ₹1,55,000 per kg on October 5 to ₹1,89,000 on October 14 — an increase of ₹34,000 or 21.9% in 10 days. Over the past month, silver has risen from ₹1,33,000 per kg on September 14, marking a 42.1% surge.

With the festive season underway, any correction in prices appears unlikely. Traditional Dhanteras and Diwali buying is expected to further support demand, potentially pushing gold and silver prices even higher in the coming days.