Gold bangles are displayed at a jewellery store in Mumbai
| Photo Credit: Reuters
Gold prices rallied for the third straight day and gained ₹2,600 to hit a fresh lifetime high of ₹1,26,600 per 10 grams in the national capital on Wednesday (October 8, 2025) in line with strong global trends amid looming geopolitical uncertainties triggered by the prolonged shutdown of the U.S. government.
The precious metal has added ₹6,000 in the past three days as global risk-aversion has prompted investors to rush for safe haven assets.
According to the All India Sarafa Association, gold of 99.9% purity had closed ₹700 higher at ₹1,24,000 per 10 grams on Tuesday (October 7), a day after registering a steep surge of ₹2,700 on Monday (October 6).
On Wednesday (October 7), the yellow metal of 99.5% purity appreciated by ₹2,600 to touch an all-time high of ₹1,26,000 per 10 grams (inclusive of all taxes) in the local bullion market.
It had settled at ₹1,23,400 per 10 grams in the previous market session.
Analysts said the ongoing U.S. government shutdown and rising global geopolitical tensions have fuelled the flows into the safe haven asset.
In addition, silver prices surged by ₹3,000 to trade near its record high at ₹1,57,000 per kilogram (inclusive of all taxes) on Wednesday. The white metal had ended at ₹1,54,000 per kg on Tuesday (October 7).
The white metal had hit a record high of ₹1,57,400 per kilogram on Monday (October 6).
In the overseas markets, bullion prices witnessed robust traction. Spot gold went up nearly 2% to hit a record high of $4,049.59 per ounce.
“Spot gold climbed above the key $4,000 per ounce-mark for the first time, driven by safe-haven demand amid concerns about the U.S. economy and the government shutdown.
“Geopolitical tensions in Ukraine, political instability in France and Japan, and rising expectations of Fed rate cuts amid ongoing data blackout also supported upside,” Kaynat Chainwala, AVP Commodity Research, Kotak Securities, said.
Spot silver rose more than 2% to hit a high of $48.99 per ounce in the global markets.
Published – October 08, 2025 06:01 pm IST
