Gold and Silver Prices Hit Record Highs in Sawan: Check Today’s Latest Rates Across Major Indian Cities
Gold and silver prices have touched new highs during the auspicious month of Sawan, with both metals trading at peak levels in the bullion markets across India. On Wednesday evening, silver crossed ₹1,18,000 per kg, and today, it has surged further to trade at ₹1,19,000 per kg. Similarly, 24-carat gold has crossed ₹1,02,000 per 10 grams, while the price of 22-carat gold has exceeded ₹93,800.
Why Are Gold and Silver Prices Rising?
The sharp rise in gold and silver rates can be attributed to a combination of global and domestic factors. On the international front, increasing geopolitical and economic uncertainties—especially surrounding trade negotiations in the United States—have created a risk-averse environment among investors. The weakening US dollar has further pushed investors toward safe-haven assets like gold and silver, driving up global demand and prices.
Back home in India, local factors such as bulk buying by stockists, increased industrial demand, and seasonal buying during festivals like Sawan have fueled the price hike. Jewellers note that the demand for silver traditionally rises during religious months, and this year is no exception. The combination of strong retail demand and industrial usage has pushed silver and gold rates to unprecedented levels in major bullion markets like Delhi, Mumbai, Jaipur, and others.
Gold and Silver Prices in Key Indian Cities – July 24, 2025
| City | 22 Carat Gold (₹/10g) | 24 Carat Gold (₹/10g) |
|---|---|---|
| Delhi | ₹93,960 | ₹1,02,490 |
| Mumbai | ₹93,810 | ₹1,02,340 |
| Chennai | ₹93,810 | ₹1,02,340 |
| Kolkata | ₹93,810 | ₹1,02,340 |
| Jaipur | ₹93,960 | ₹1,02,490 |
| Noida | ₹93,960 | ₹1,02,490 |
| Ghaziabad | ₹93,960 | ₹1,02,490 |
| Lucknow | ₹93,960 | ₹1,02,490 |
| Bengaluru | ₹93,810 | ₹1,02,340 |
| Patna | ₹93,810 | ₹1,02,340 |
Silver, meanwhile, continues to dazzle with its performance. On July 24, silver is trading at ₹1,19,000 per kilogram, gaining momentum thanks to industrial demand and seasonal buying. Traders and analysts suggest the current trend could continue if global uncertainty persists and local festive demand strengthens further.
How Are Gold Prices Determined in India?
Gold prices in India are influenced by a variety of factors including:
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Global Market Trends: International gold rates heavily influence local pricing.
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Import Duties and Taxes: Since India imports most of its gold, any change in import duty directly affects the domestic price.
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Rupee-Dollar Exchange Rate: A weak rupee compared to the US dollar typically raises gold prices.
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Demand and Supply: Festive seasons and wedding months boost demand, putting upward pressure on prices.
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Central Bank Policies: Global interest rates and monetary policies can impact investor sentiment and affect gold investments.
India, being one of the largest consumers of gold, sees a consistent demand not just for investment purposes but also for cultural, religious, and ceremonial occasions. This traditional significance means any fluctuation in gold prices has a direct impact on household budgets and purchasing decisions.
Outlook Ahead
With the month of Sawan in full swing and more festivals on the horizon, bullion traders expect demand to remain strong. Experts advise potential investors and buyers to keep an eye on global cues and domestic trends before making significant purchases. While gold is currently trading near its all-time high, any dip could be a strategic opportunity for long-term investors.
Final Word
The rally in gold and silver prices is a reflection of both global market dynamics and India’s deep-rooted cultural affinity for precious metals. As Sawan brings with it religious sentiments and traditional buying patterns, both metals are expected to remain in the spotlight over the coming weeks.
Stay tuned to daily market updates to track how gold and silver prices evolve amid changing global economic conditions and festive demand in India.
