Gold and silver prices in India surged, pushing both metals close to their record highs. According to India Bullion and Jewellers Association as cited by state owned DD News, the price of 24-carat gold climbed to INR1.17mn ($13,900) per 10 grams as of October 5, 2025, compared with INR1.13mn a week earlier.

This reflects a gain of INR3,692 in just seven days. For 22-carat gold, prices advanced to INR1.07mn per 10 grams, up from INR1.04mn . Similarly, 18-carat gold increased to INR87,716 per 10 grams, against INR84,974 previously. Silver also saw a steep rise, gaining INR7,510 during the review period to reach INR145,610 per kilogram from INR138,100.

The persistent rally has kept both metals near their all-time highs. Analysts attribute the rise to global instability, with the United States budget impasse and trade tariffs amplifying uncertainty. In times of volatility, investors worldwide typically seek refuge in safe-haven assets such as gold and silver, lifting demand while limited supply exerts further upward pressure.

In international markets Goldman Sachs projects that gold may climb as high as $5,000 an ounce next year, from its current level of about $3,900. Since January 1, 2025, 24-carat gold has advanced 54% from INR761,620 per 10 grams to INR1.17mn.

Silver has surged even more sharply, up 69% from INR86,017 per kilogram to INR145,610. Both metals remain supported by geopolitical uncertainty and strong investor demand as safe havens in traditional equity and bond markets shrinks due to policy shake ups by actors such as US President Donald Trump in his second term.