Gold prices continued their strong upward run on Tuesday, August 25, 2026, as the precious metal gained further momentum ahead of India's festive season. While gold extended its rally in the futures and physical markets, silver moved in the opposite direction and witnessed a notable decline after several sessions of gains.
In the domestic futures market, October 2026 gold contracts climbed by more than ₹1,100, taking the price above ₹1.63 lakh per 10 grams. The latest rise means gold has become costlier by approximately ₹8,400 over the past four trading sessions.
Silver, however, failed to maintain its recent momentum. September 2026 silver futures fell by nearly ₹1,800 per kilogram, bringing an end to a three-session winning streak.
The movement in precious metals comes at a time when global investors are closely tracking the US dollar, inflation expectations and signals about the future direction of monetary policy in the United States.
Gold and Silver Futures Prices on August 25
October 2026 gold futures were trading at around ₹1,63,590 per 10 grams, registering an increase of approximately ₹1,152.
September 2026 silver futures, meanwhile, were quoted at approximately ₹2,44,815 per kilogram, down around ₹1,782.
Gold's latest rise has extended an impressive short-term rally. Over the previous four trading sessions, the yellow metal has gained approximately ₹8,400.
Silver had also been moving higher recently, but Tuesday's decline interrupted the rally that had continued for three consecutive trading sessions.
Gold Prices Rise in the Physical Market
The upward movement is not limited to futures contracts. Gold prices have also remained elevated in the domestic physical bullion market.
According to the rates mentioned for August 25, 24-carat gold was priced at around ₹1,63,970 per 10 grams, while 22-carat gold stood at approximately ₹1,50,300 per 10 grams. The price of 18-carat gold was around ₹1,22,930 per 10 grams.
Silver was trading near ₹2,60,000 per kilogram in the physical market.
Actual jewellery prices paid by customers may differ because the final bill can include GST, making charges and other applicable costs. Rates can also vary slightly depending on the city and jeweller.
Gold Price Today in Delhi
Gold remained expensive in the national capital on August 25.
The price of 24-carat gold in Delhi was around ₹1,64,120 per 10 grams, while 22-carat gold was quoted at approximately ₹1,50,450 per 10 grams.
For buyers looking at lower-purity gold, 18-carat gold was priced at around ₹1,23,080 per 10 grams.
Gold Rate in Mumbai
Mumbai reported slightly lower rates compared with Delhi.
In the financial capital, 24-carat gold was available at approximately ₹1,63,970 per 10 grams. The price of 22-carat gold stood at ₹1,50,300, while 18-carat gold was quoted at around ₹1,22,930 per 10 grams.
Gold Prices in Lucknow, Patna and Jaipur
Gold rates remained close to ₹1.64 lakh per 10 grams for 24-carat purity across several other major cities.
In Lucknow, 24-carat gold was priced at approximately ₹1,64,120 per 10 grams. The 22-carat rate stood at ₹1,50,450, while 18-carat gold was available at around ₹1,23,080.
In Patna, buyers were looking at a price of approximately ₹1,64,020 for 24-carat gold, ₹1,50,350 for 22-carat gold and ₹1,22,980 for 18-carat gold per 10 grams.
Gold prices in Jaipur were similar to those in Delhi and Lucknow. The 24-carat rate stood at around ₹1,64,120 per 10 grams, while 22-carat and 18-carat gold were priced at approximately ₹1,50,450 and ₹1,23,080, respectively.
Global Gold Prices Also Move Higher
The bullish trend in India followed strength in the international bullion market.
Spot gold climbed to its highest level since May 15 during early trading before settling around 0.5% higher at $4,627.42 per ounce.
US gold futures also moved up, gaining approximately 0.1% to $4,683.80 per ounce.
Silver witnessed some pressure internationally as well. Spot silver declined by approximately 0.3% to $68.76 per ounce.
Why Are Gold Prices Rising?
A weaker US dollar has provided support to gold prices. Gold is internationally priced in dollars, and weakness in the US currency can make the precious metal relatively more attractive to buyers using other currencies.
Market participants are also keeping an eye on upcoming US inflation data and comments from Federal Reserve official Kevin Warsh for possible clues about the future course of interest rates and monetary policy.
Expectations surrounding interest rates can significantly influence precious metal prices because gold does not offer regular interest income. Changes in the dollar, bond yields, inflation expectations and geopolitical uncertainty can therefore have a major impact on demand.
What Should Gold Buyers Keep in Mind?
With India's festive season approaching, demand for jewellery and precious metals could remain in focus. However, the sharp rise of nearly ₹8,400 in gold over just four trading sessions also highlights how quickly bullion prices can change.
Consumers planning to purchase jewellery should check the latest local rate before visiting a store and compare prices across sellers. Buyers should also consider purity, hallmarking, GST and making charges while calculating the actual cost of jewellery.
Investors, meanwhile, should remember that gold and silver prices can fluctuate significantly in response to international markets, currency movements, interest-rate expectations and economic data. The quoted market rate may therefore change several times during a trading session.
