Gold prices registered an intraday rise today after sliding for the past three sessions, while silver delivered a sharp surge of nearly Rs 4,300, keeping sentiment positive across the precious metals market. Despite the uptick, jewellers and consumers continue to hope for more stable price levels.
Experts believe this as the beginning of a renewed precious metal run — fuelled by global uncertainties, persistent geopolitical tensions, and expectations of liquidity support from major central banks.
Gold Prices Today: Up 0.58 per cent
Domestic gold prices surged to Rs 1,26,229, up 0.58 per cent or Rs 725 intraday.
- Intraday low: Rs 1,25,510
- Intraday high: Rs 1,26,830
In international markets, gold was trading around $4,195, up 0.95 per cent.
Expert Voices: The gold run has only just begun
In a conversation with Zee Business, experts shared their views related to the unstable prices of gold and silver, and what are the reasons actually fueling the prices of Gold and Silver.
Kunal Shah, Nirmal Bang Commodities
Kunal Shah believes the gold rally is at a decisive early stage, he said that “The gold run has started. Looking at developments in Japan—including stress in the bond market—it appears Western central banks may eventually be forced to inject liquidity to stabilise their economies. The possible new Fed chairman is also extremely dovish. If rate cuts begin, they may continue further.”
Bharghav Vaidya, BN Associates: According to Vaidya, stability in gold will remain difficult, he said – “This is another phase of the bull run. Gold is unlikely to remain stable for long. If the Indian economy stays strong and geopolitical tension eases, it will be a bonus for gold.”
Avinash Gupta, Vice Chairman, GJC: Gupta believes this could be the start next run of Gold after the festive season, he said- “This can mark the beginning of the second phase of gold’s bull run. Prices may continue to rise. Geopolitical tensions are far from over—Russia’s military actions, US–Venezuela friction, China–Taiwan concerns, and China–Japan disputes all keep gold fundamentals strong.”
He also added that rumours of Fed Chair Jerome Powell possibly being replaced or aggressive rate cuts could further accelerate gold prices, he added that “If the Fed cuts rates or leadership changes, gold will get a major boost. Fundamentally, gold does not look weak at all.”
Gupta expects gold to trade between Rs 1,20,000 and Rs 1,40,000 in the coming months. However, he emphasized that price volatility is hurting volumes. He mentioned that “Jewellers and consumers prefer stable prices. Today’s instability is creating confusion, leading to some degrowth in volume. Gold may move 5 per cent up or down, but I don’t expect bigger fluctuations in the near term.”
Silver Outperforms: Rises over 2.5 per cent in intraday trade
Silver outshined gold today, climbing 2.68 per cent. The white metal traded at Rs 1,66,815, up Rs 4,348 intraday.
Globally, silver prices rose by $54.77, gaining 2.57 per cent.
Overall outlook
The precious metals market remains firmly bullish. With ETF flows, rising geopolitical risk, and expectations of easier global monetary policy, analysts believe that gold and silver are entering a new phase of long-term strength, though short-term volatility is expected to persist.
