Gold prices reached a new high of ₹80,650 per 10 grams in the national capital, while in Calcutta, it stood at ₹78,300. Silver also saw a massive increase, jumping ₹5,000 to ₹99,500 per kg.
This price rise is largely driven by the weakening dollar and the US Federal Reserve’s 50 basis point interest rate cut. Strong festive demand, especially for weddings, and rising investor interest in gold ETFs have further fueled the rally. Silver's surge is supported by increased industrial demand, especially from the electric vehicle and solar sectors.