Look, the wedding season is hitting the bullion market, but this is more than just domestic demand. Gold and silver prices just had a massive jump this morning, making that purchase for the upcoming ceremonies seriously expensive.
Gold is up ₹1,100 per 10 grams. And here’s the kicker: Silver is the one really going wild, surging by ₹2,730 per kilogram, and actually hitting a new all-time high in the process.
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The Cause and Effect
The surge is intense. This didn’t happen in a vacuum, let’s be real.
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Wedding Demand (The Local Factor): The strong demand from the ongoing Indian wedding season is the constant driver here. Buyers were hoping the price decline last week would stick. It didn’t. The market opened green. And then it closed green, pushing higher and higher.
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Weak Rupee/Global Safe-Haven (The Big Factor): The thing is, this latest spike is fueled heavily by international events. The Indian Rupee hit a historic low against the US Dollar—crossing the 90-mark for the first time. When the rupee weakens, it makes imported gold and silver costlier in the local market, automatically boosting prices.
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US Fed Rate Cut Hopes: Global investors are betting big on the US Federal Reserve cutting interest rates soon. Gold is a non-yielding asset, so when interest rates fall, gold looks a lot more attractive. This is driving the international price up.
The New Rates: What You’re Paying Today
This is where the numbers land after the morning surge.
| Metal Type | Price (Current) | Morning Jump |
| 24-Carat Gold (10g) | ₹1,30,870 | Up ₹1,100 |
| 22-Carat Gold (10g) | ₹1,19,964 | |
| Silver (1 kg) | ₹1,83,930 | Up ₹2,730 |
MCX and International View
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MCX: Gold futures were up 0.75%, trading at ₹1,30,725 per ten grams. Silver on MCX rose 1.12%, hitting ₹1,83,642 per kg, reinforcing that all-time high sentiment.
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International: On the US Comex, gold was up around 0.70%, hitting $4,250.40 per ounce. This just confirms the price strength is coming from both domestic and global market confidence.
This is a market that shows no sign of slowing down. If you’re buying, you’re paying a premium.
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