Precious Metals Rally: 24‑Carat Gold Up ₹6,761, Silver Tops ₹2.31 Lakh/kg

New Delhi, 8 August – The Indian bullion market experienced a pronounced rally this week, driven by declining dollar index readings and lower inflation risks. The 24‑carat gold price jumped to ₹1,49,621 per 10 grams, a rise of ₹6,761 from the previous week’s level of ₹1,42,860.

Parallel movements were recorded in the silver market, where the price climbed to ₹2,31,381 per kilogram, adding ₹13,086 to the prior week’s ₹2,18,295. The IBJA noted that 22‑carat gold reached ₹1,37,053 per 10 grams and 18‑carat gold hit ₹1,12,216 per 10 grams.

The week’s price extremes for gold were a low of ₹1,42,557 on August 3 and a high of ₹1,49,621 on August 7. Silver’s low stood at ₹2,17,287 on August 3, with the high matching the week’s closing figure of ₹2,31,381 on August 7.

International pricing kept pace, with gold around $4,400 per ounce and silver near $63 per ounce. Analysts attribute the rally to easing crude‑oil price pressures, which lessen inflation concerns, and a weaker dollar that boosts demand for safe‑haven assets.

Moving forward, the momentum in gold and silver is likely to persist as long as the dollar index remains subdued and inflation expectations stay low, offering investors a favorable backdrop for precious‑metal allocations.