Gold, Silver prices today: Gold and silver prices in India soared to all-time highs on Monday (1 September 2025), buoyed by heightened safe-haven demand
amid mounting tariff uncertainties and a weakening rupee.
On the Multi-Commodity Exchange (MCX), gold prices hovered near Rs 1.06 lakh per 10 grams for the first time. As of 12:27 pm, bullion prices on MCX were up by 1.21 per cent or Rs 1,257, trading at Rs 1,05,081. Prices touched an all-time high of Rs 1,05,937 earlier in the session.
Mirroring gold’s trend, silver also rose 2.11 per cent to Rs 1,24,448 per kg, hitting a record high of Rs 1,24,470 earlier in the day. Silver also reached a 14-year peak on Comex.
Dinesh Somani, Founder of ProIntellitrade Services, told ET Now Swadesh that the upward momentum in gold is likely to continue in the near term, supported by strong international sentiment.
Echoing Somani’s view, Ravi Deora from Kunvarji Group said, “With a holiday in the U.S. markets, there’s little chance of reverse buying, so the current trend is likely to persist. Additionally, strong manufacturing data from China is providing further support to metals like gold and silver.”
On the geopolitical front, a U.S. federal appeals court ruled that most of President Donald Trump’s tariffs were illegal, stating he exceeded his authority by invoking emergency powers under the International Emergency Economic Powers Act to impose broad tariffs.
Gold prices often rise during geopolitical tensions, as investors turn to safe-haven assets to hedge against uncertainty.
Regarding the currency, “The Indian rupee weakened significantly against the dollar, hitting an all-time low, which further pushed local bullion prices higher,” said Rahul Kalantri, Vice-President of Commodities at Mehta Equities, to Press Trust of India (PTI).
A weaker rupee raises gold prices in India since gold is dollar-denominated, making it more expensive for Indian buyers.
As reported by Reuters, in a social media post on Friday, Daly reiterated her support for a rate cut, citing risks to the labour market. Non-yielding gold typically performs well in a low-interest-rate environment.
Ravi Deora recommends a ‘Buy’ call on both gold and silver, citing favourable global cues and sustained momentum.
Gold Price Today: City-wise rates
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money-related decisions.)
