Gold Price in India Today surges to an all-time high of ₹12,904 per gram amid US-China tensions, Fed rate cut hopes, and festive season demand.
Gold Price in India Today Hits Record ₹12,904 per Gram as Global Uncertainty Spurs Festive-Season Rally
Gold Price in India Today climbed to historic peaks on Wednesday, with 24-carat gold reaching ₹12,904 per gram and international bullion surpassing the $4,200 per ounce mark. The surge comes as global investors flock to safe-haven assets amid escalating US-China trade tensions, speculation over Federal Reserve rate cuts, and growing geopolitical instability — just ahead of India’s gold-buying festive season.
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Global Tensions Push Gold to Unprecedented Levels
Renewed friction between the United States and China has triggered a flight to safety. President Donald Trump’s recent threat of 100% tariffs on Chinese goods and Washington’s new export restrictions on critical software from November 1 have shaken global markets. In response, Beijing tightened its export controls on rare earth materials, intensifying global supply chain anxiety.
Investors are responding by shifting capital to gold and silver, historically trusted assets during uncertain times. This sentiment has driven both global and domestic gold prices to record levels.
Rahul Kalantri, Vice President of Commodities at Mehta Equities Ltd., noted,
“Gold and silver extended their bullish streak in a volatile session as investors sought safety amid growing US-China trade tensions. Threats of soybean import restrictions added to market caution.”
Domestic Gold Prices Mirror Global Trends
In Indian markets, 22-carat gold is trading at ₹11,830 per gram, while 18-carat gold stands at ₹9,712 per gram — both reflecting robust gains. Analysts attribute this parallel movement to the close link between India’s bullion markets and international price trends.
Federal Reserve Signals Boost Gold’s Momentum
Adding to the rally, Federal Reserve Chair Jerome Powell’s dovish remarks hinted at possible rate cuts later this year. With slowing employment growth and an ongoing US government shutdown, traders expect interest rate reductions in October and December, further bolstering gold’s appeal as a hedge against economic volatility.
Festive and Wedding Seasons Amplify Domestic Demand
The timing of the gold rally coincides with Dhanteras (October 18) and Diwali (October 23) — India’s most auspicious days for gold purchases. The upcoming wedding season will further fuel demand, even amid record-high prices.
Market experts emphasize that sentimental and cultural traditions ensure steady gold purchases during these periods, though high prices may influence buying patterns. Jewelers report that many customers are choosing lighter ornaments, gold coins, or smaller jewelry pieces to balance affordability with tradition.
Silver Joins the Rally
Silver prices have mirrored gold’s rise, with Chennai rates crossing ₹2 lakh per kilogram, underscoring the broad rally in precious metals.
Year-to-Date Performance Highlights Gold’s Strength
So far in 2025, gold has gained over 59% in dollar terms and more than 60% in rupee terms, cementing its position as one of the best-performing global assets. Continued central bank gold purchases and persistent geopolitical tensions suggest the rally may persist well into next year.
Outlook: A Perfect Storm for Gold’s Golden Run
As India approaches its festive gold-buying peak, the convergence of global uncertainty, dovish monetary policy, and cultural demand is creating the perfect storm for higher prices. Analysts warn that volatility may persist, but the Gold Price in India Today remains a clear reflection of global unease and local optimism — making the yellow metal a trusted safe haven amid unprecedented market turbulence.