Amid global uncertainty, gold and silver prices in India have seen a sharp surge while the stock market opened weaker. The price of gold has climbed to ₹99,515 per 10 grams, registering a rise of about ₹1,750 in a single day. Silver too recorded a significant rally, now trading at ₹111,504 per kilogram—an increase of over ₹2,000 from the previous session.

In the domestic spot market, a strong upward momentum was observed, with gold prices reaching new highs across major cities. In Delhi, the price of 24 karat gold jumped by ₹820 to touch ₹1,02,370 per 10 grams. Similarly, Mumbai saw gold trading at ₹1,02,220 for the same quantity. Silver in both cities reached a peak of ₹1,15,000 per kilogram, also up by around ₹2,000.

However, in the futures market, both gold and silver registered a mild decline. On the Multi Commodity Exchange (MCX), the gold contract for October expiry fell slightly by ₹255 to trade at ₹100,949 per 10 grams. Silver futures set to expire in early September were marginally down, currently at ₹112,196 per kilogram.

The ongoing price action reflects heightened demand for precious metals as investors seek safe havens during periods of economic and geopolitical tension. Spot prices remain firm, indicating that demand for gold and silver jewelry and investments remains robust despite fluctuations in futures contracts.