Gold and silver prices remained firm on Monday as global uncertainties continued to drive demand for safe-haven assets. Investors kept a close watch on the ongoing US-Iran tensions, movements in crude oil prices and expectations around US interest rates, all of which have a direct impact on precious metal prices.
According to data from the Indian Bullion Association (IBA), 24-carat gold was priced at ₹1,54,530 per 10 grams, while 22-carat gold stood at ₹1,41,653 per 10 grams. Silver (999 fine) was trading at ₹2,40,640 per kg.
For many Indian households, gold is more than an investment. It remains a symbol of savings, security and tradition. However, with prices staying near record highs, buyers are increasingly tracking daily rate changes before making purchases.
Gold prices varied slightly across cities due to local taxes and transportation costs. In Mumbai, 24-carat gold was quoted around ₹1,54,250 per 10 grams, while Delhi saw prices near ₹1,53,960. Chennai continued to record relatively higher rates, with gold above ₹1,54,600 per 10 grams.
Silver also remained strong, trading above ₹2.40 lakh per kg in most major cities. Apart from investment demand, silver is widely used in industries such as electronics, renewable energy and manufacturing, which has supported prices in recent months.
Global developments continue to play a major role in determining bullion prices. Rising geopolitical tensions in West Asia have increased demand for gold as a safe-haven asset. At the same time, investors are closely watching signals from the US Federal Reserve, as interest rate decisions influence the appeal of non-yielding assets like gold.
The movement of the Indian rupee against the US dollar is another key factor. Since India imports most of its gold, a weaker rupee can make the metal more expensive in the domestic market.
Gold and silver futures on the Multi Commodity Exchange (MCX) also remained volatile during the day, reflecting changing global cues and investor sentiment. Market participants said bullion prices are likely to remain sensitive to developments in crude oil, the dollar index and geopolitical events.
Jewellers pointed out that the quoted bullion rates do not include GST and making charges, which can increase the final price paid by consumers.
With the festive and wedding season approaching, buyers are expected to remain active, but many may wait for short-term corrections before making large purchases. For now, gold above ₹1.54 lakh per 10 grams and silver over ₹2.40 lakh per kg underline the strong demand for precious metals amid an uncertain global environment.