Gold and silver prices have moved higher again as India enters the festive season, bringing precious metals back into focus for buyers and investors. The latest bullion market figures show a sharp increase in both metals, while futures trading on the Multi Commodity Exchange (MCX) also remained firm.
According to the price data cited from the India Bullion and Jewellers Association (IBJA), the price of 24-carat gold increased by ₹1,328, taking it close to ₹1.52 lakh per 10 grams. Silver recorded an even bigger absolute increase, rising by ₹4,102 to around ₹2.32 lakh per kilogram.
The upward movement comes after a volatile year for precious metals. Gold and silver touched record levels earlier in 2026 before retreating from their peaks. With festive demand approaching and global factors continuing to influence bullion markets, prices are once again showing upward momentum.
Gold and Silver Rise on MCX
The positive trend was also visible in futures trading on Friday evening.
Gold futures on MCX gained around ₹300 and traded above ₹1.51 lakh per 10 grams. Silver futures advanced by more than ₹1,070 and crossed ₹2.34 lakh per kilogram.
At around 8:19 PM on Friday, gold scheduled for delivery on October 5, 2026, was quoted at approximately ₹1,51,065 per 10 grams.
Silver scheduled for delivery on December 4, 2026, was trading at around ₹2,34,680 per kilogram.
It is worth noting that MCX prices are futures-market quotations and can differ from physical-market jewellery prices. Retail customers may also pay additional charges such as GST and making charges when purchasing jewellery.
Gold Has Gained Around ₹19,000 in 2026
Gold has experienced substantial price swings throughout 2026.
On December 31, 2025, the price of 24-carat gold was around ₹1.33 lakh per 10 grams. Based on the latest level of approximately ₹1.52 lakh, the precious metal has gained roughly ₹19,000 per 10 grams so far this year.
That represents a significant increase for buyers who purchased gold near the end of 2025, although prices have not moved in a straight line.
Gold had climbed much higher earlier in the year before retreating from its record level.
Silver Also Trades Above Its 2025 Year-End Level
Silver has also attracted considerable attention in 2026 because of its sharp price fluctuations.
The metal was priced at approximately ₹2.30 lakh per kilogram on December 31, 2025. It is now around ₹2.32 lakh per kilogram, according to the figures cited in the report.
While this indicates a relatively modest increase compared with the year-end level, it does not tell the complete story. Silver had climbed dramatically higher earlier in 2026 before giving up a substantial portion of those gains.
Gold and Silver Hit Record Highs in January
Both precious metals reportedly touched extraordinary levels on January 29, 2026.
Gold reached approximately ₹1.76 lakh per 10 grams, while silver climbed to around ₹3.86 lakh per kilogram.
Prices subsequently declined from those peaks and continued to fluctuate as investors responded to changing global and domestic market conditions.
The latest rally has once again increased attention on whether precious metals could move closer to their earlier highs in the coming months.
Why Are Gold Prices Rising Again?
Several domestic and international factors can influence gold prices.
Central-bank purchases are one important factor watched by the global bullion market. Demand from major markets, including China and India, can also affect sentiment and prices.
In India, the festive and wedding seasons traditionally generate additional demand for gold jewellery, coins and other products. Expectations of stronger physical demand during this period may provide support to domestic bullion prices.
However, demand alone does not determine the direction of gold.
International bullion prices, movements in the US dollar, interest-rate expectations, geopolitical developments, central-bank policies and changes in the rupee-dollar exchange rate can all influence prices in India.
Silver can be even more volatile because its price is influenced by both investment demand and industrial consumption.
Can Gold Reach ₹1.80 Lakh by Diwali or Year-End?
Some market experts cited in reports believe that gold could potentially move toward ₹1.80 lakh per 10 grams by Diwali or the end of 2026 if the current momentum continues and global as well as domestic demand remains supportive.
Similarly, silver has been projected by some analysts to potentially approach ₹3 lakh per kilogram.
These figures should be treated as market forecasts rather than assured price targets. Precious metals can move sharply in either direction, and previous highs or analyst projections do not guarantee future prices.
What Should Buyers Keep in Mind?
Consumers planning to buy gold during the festive season should compare the actual retail rate offered by jewellers rather than relying solely on headline bullion or MCX prices.
The final jewellery bill can include the prevailing gold value, making charges, applicable taxes and other costs. Buyers should also check purity and hallmarking before completing a purchase.
Investors should similarly remember that gold and silver prices can be highly volatile. Global economic developments, currency movements, interest rates and investor sentiment can quickly change the market direction.
With gold now near ₹1.52 lakh per 10 grams and silver around ₹2.32 lakh per kilogram in the cited physical-market figures, precious metals are once again gaining momentum. Whether this rally continues into Diwali and the final months of 2026 will depend on how both global and domestic market conditions develop.
