Gold and silver prices have risen again in bullion markets across the country today. The global rally is directly impacting the Indian market. On August 6th, the price of 24-carat gold crossed ₹1.45 lakh in several major cities. Experts believe that the wedding season, the festive season, and the growing trend toward safe investments are also supporting gold prices. In the capital, Delhi, the price of 24-carat gold has reached ₹1,45,910 per 10 grams, while in Mumbai, Pune, Chennai, Kolkata, and Bengaluru, the price has been recorded at ₹1,45,760 per 10 grams. Meanwhile, the price of 22-carat gold has also risen significantly, and customers are now having to pay more to purchase jewelry.

Impact of global market boom on India

Gold prices are steadily rising in the international market. Spot gold rates are currently at $4,162.76 per ounce. Market analysts attribute this rise to several global developments.

In particular, there is the possibility of a positive resolution between the US and Iran regarding the Strait of Hormuz, one of the world's most vital oil transportation routes. This has eased concerns about global inflation, and there are indications that the US central bank, the Federal Reserve, is unlikely to raise interest rates. Against this backdrop, rising investment in precious metals has further strengthened gold prices.

Silver also reached a record high

Along with gold, silver prices have also risen sharply. Domestic silver prices have reached ₹240,100 per kilogram, which is considered a significant milestone for investors. Spot silver prices in the international market have also risen to $61.35 per ounce. Industrial demand and a positive global market sentiment are supporting silver prices.

Given the festive season and global economic developments, further volatility in gold and silver prices cannot be ruled out in the coming days. Therefore, both investors and consumers are now closely watching the bullion market.