Gold and silver prices hit fresh record levels on Monday, March 17, rallying by Rs 1,300 each amid strong global market trends. The surge was fueled by increasing expectations of monetary policy easing by the US Federal Reserve, uncertainty over US tariffs, and ongoing trade tensions.
Gold and Silver Prices Hit Lifetime Highs
According to the All India Sarafa Association, silver extended its gains for the fourth consecutive day, rising by Rs 1,300 to a fresh high of Rs 90,750 per 10 grams. Previously, on Thursday, silver had closed at Rs 89,450 per 10 grams.
Similarly, gold of 99.5% purity surged by Rs 1,300, reaching a lifetime high of Rs 90,350 per 10 grams, up from Thursday’s closing level of Rs 89,050 per 10 grams, as reported by PTI.
Expert Insights on the Price Rally
Saumil Gandhi, Senior Analyst, Commodities at HDFC Securities, attributed the record-breaking rally to multiple factors, including increased buying by central banks and global economic instability.
Gandhi also emphasized that the trade and economic policies of US President Donald Trump have contributed to increased economic uncertainty worldwide, further driving demand for safe-haven assets like gold and silver.
Also Read: ‘Need of direct communication’, Tulsi Gabbard on India US tariff threat
City-wise Gold and Silver Prices Today
Gold Prices per 10 Grams (24-Carat)
- Mumbai: Rs 89,687
- Delhi: Rs 89,710
- Bangalore: Rs 89,842
- Kolkata: Rs 89,685
Silver Prices per 1 Kg
- Mumbai: Rs 1,05,300
- Delhi: Rs 1,02,900
- Bangalore: Rs 1,05,400
- Kolkata: Rs 1,06,800
Gold and Silver Price Trends in 2025
Gold prices have surged by Rs 11,360 (14.31%) from Rs 79,390 per 10 grams on January 1 to Rs 90,750 per 10 grams. Similarly, silver prices climbed to Rs 1,02,500 per kg, surpassing its previous high of Rs 1,01,200 per kg on Thursday.
On the Multi Commodity Exchange (MCX), gold futures for April delivery increased by Rs 13 to Rs 88,004 per 10 grams. On Friday, gold hit a record peak of Rs 88,310 per 10 grams on the commodities bourse.
Global Market Trends
Spot gold prices in the global markets appreciated by USD 14.48, reaching USD 2,998.90 per ounce. On Friday, it had breached the psychological mark of USD 3,000 per ounce.
“Gold prices remain near record highs as expectations of further US Fed interest rate cuts strengthen, fueled by cooling inflation,” said Chintan Mehta, Chief Executive Officer at Abans Financial Services Ltd, as cited in a PTI report.
With economic uncertainties persisting, the demand for gold and silver as safe-haven assets is expected to remain strong in the coming weeks.
