Overview

• India’s benchmark rate climbed to Rs 1,07,070 per 10 grams, with Delhi quotes at Rs 1,06,200 inclusive of taxes, according to market associations.
• Global spot gold touched a fresh peak near $3,547 per ounce, while MCX October futures traded around Rs 1,06,016 per 10 grams.
• City-level prices varied, with Mumbai near Rs 1,06,100, Chennai around Rs 1,06,310 and Delhi about Rs 1,06,250 for 24k.
• Analysts cite equity and bond sell-offs, expectations of US Fed rate cuts, geopolitical and tariff uncertainties, and a weak rupee as key drivers.
• ICICI Bank’s research projects Rs 99,500–1,10,000 for the rest of 2025 and Rs 1,10,000–1,25,000 in H1 2026, while silver showed mixed moves near record domestic levels.