Indian Bullion Market Sees Sharp Rise in Gold and Silver Rates

The domestic bullion arena experienced a strong upward thrust on Friday. Gold futures for the August 5 2026 contract surged by more than Rs 2,000, translating to a 1.46 % increase and setting the 10‑gram price at Rs 1,47,886. Silver, meanwhile, posted a 1.92 % rise, closing at a historic Rs 2,37,788 per kilogram. The price escalation is attributed to a confluence of global risk factors—especially rising geopolitical strain—and heightened local demand as consumers gear up for the upcoming wedding and festival calendar. Across major Indian cities, 22‑carat gold hovers around Rs 1,34,750‑1,37,000, while 24‑carat gold stays near Rs 1,47,000‑1,49,560. Silver rates range from Rs 2,40,000 to Rs 2,70,000 per kg, reflecting a broad-based surge that will likely keep jewellery costs elevated in the near term.