Gold rates in India have continued their record rally for the past seven days, with 24 carats of 10 grams hitting a new all-time high of Rs 105,880 on September 1st. Now, the 22 carat gold price is just Rs 2,950 away in 10 grams from hitting the Rs 1 lakh mark. Silver prices are at a new historic high as well. MCX gold also crossed the Rs 1,05,000 mark, and its immediate resistance is seen around Rs 1,07,000. Expert believes that the potential for new highs is still valid in gold and silver prices. But a dip could spur buying appetite.
On September 1st, gold prices are at new lifetime high. 10 grams gold price is at Rs 1,05,880 in 24 carat, and Rs 97,050 in 22 carat. Furthermore, the 100 grams gold price is at Rs 10,58,800 in 24 carat and at Rs 9,70,500 in 22 carat.
22 carat gold is nearing Rs 1 lakh for the first time. Notably, gold prices have been rising since August 26, with the onset of festive season.
1Kg silver price is currently at new all-time high of Rs 1,26,000, while 100 grams and 10 grams of silver price are at Rs 12,600 and Rs 1,260 respectively.
MCX Gold Price + MCX Silver Price
MCX gold price with October 2025 expiry, closed at Rs 1,04,810 per 10 grams, up by Rs 25 or 0.02% after market hours of September 1st. This comes after the bullion touched a new all-time high of Rs 1,05,937 per 10 grams.
Additionally, MCX silver price with December 2025 expiry, closed at Rs 1,24,725 per 1kg, up by Rs 64 or 0.05%. Silver also touched a new high of Rs 1,24,990 per 1kg yesterday.
Gold & Silver Prices Outlook:
Gold traded firm with gains of ₹1,000 at ₹1,05,000, supported by rupee weakness and trade-related uncertainty. The rally was further fueled after the U.S. Appeals Court declared Trump's tariffs illegal, sparking a safe-haven bid," said Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities.
He added, "On Comex, gold surged $30 to $3,475, lifting MCX prices in tandem. Near term, strong support is seen at Rs 1,02,500, while resistance stands at Rs 1,07,000. A decisive break above could open the path toward higher highs, while any dip toward support is likely to attract buying interest."
According to Kaynat Chainwala, AVP Commodity Research, Kotak Securities, safe-haven demand intensified as Britain, France, and Germany warned Iran of potential renewed U.N. sanctions over its nuclear activities. Meanwhile, France and Germany also called for secondary sanctions on countries supporting Russia's military efforts in Ukraine.
Also, Chainwala added, San Francisco Fed President Mary Daly signaled that policymakers may be ready to lower interest rates soon, noting that inflation driven by tariffs is likely to be temporary. Meanwhile, political and trade uncertainty lingers a U.S. court ruled that Trump's sweeping trade tariffs were illegal, while a decision on whether Lisa Cook can continue her Fed duties is not expected before at least Tuesday.
Spot Gold Price + Spot Silver Price
Spot gold price rose to around $3,490 per ounce on Tuesday, hovering close to an all-time high, supported by rising expectations of a Federal Reserve rate cut this month and a weaker US dollar, as per Trading Economics. While spot silver surged above $40, reaching its highest level since September 2011.
Disclaimer: The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.
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