Indian gold prices surged to record levels this week as geopolitical tensions, tariff worries, and the United States government shutdown fueled demand for safe-haven assets. The India Bullion and Jewellers Association reported 24-carat gold rose from 115,454 rupees per 10 grams on Monday to an all-time peak of 117,332 rupees on Thursday before settling at 116,954 rupees on Friday. Silver tracked the same pattern, and it climbed 1,223 rupees to close the week at 145,610 rupees per kilogram.
LKP Securities analyst Jateen Trivedi warned that sharp price swings remain possible despite the bullish momentum, and he identified support at 116,500 rupees. Central bank buying, and exchange-traded fund inflows sustained the rally for gold, and silver outperformed Indian stocks for the fourth straight year from Diwali to Diwali. Multi-Commodity Exchange futures contracts expiring on Dec. 5 ended at 118,100 rupees for gold, and 145,599 rupees for silver.
LKP Securities analyst Jateen Trivedi warned that sharp price swings remain possible despite the bullish momentum, and he identified support at 116,500 rupees. Central bank buying, and exchange-traded fund inflows sustained the rally for gold, and silver outperformed Indian stocks for the fourth straight year from Diwali to Diwali. Multi-Commodity Exchange futures contracts expiring on Dec. 5 ended at 118,100 rupees for gold, and 145,599 rupees for silver.
