The bullion market witnessed a sudden and sharp spike in the prices of gold and silver on 4 August. Gold rates rose by ₹1506 per 10 grams in a single session, reaching ₹99,759 without GST. With taxes, the 24-carat gold price stood at ₹1,02,751 per 10 grams in many markets. Silver also showed a steep rise of ₹1862 per kilogram, bringing the new price to ₹1,11,508 without GST and ₹1,14,853 with GST.

This increase in gold and silver prices comes amid shifting global economic signals and growing investor interest in precious metals as safe assets.

Gold price movement and recent highs

Gold, which had earlier touched its all-time high of ₹1,00,533 per 10 grams, has now slid slightly to ₹99,759 per 10 grams. Compared to its peak, it is ₹774 cheaper today. Silver, which had reached its highest level of ₹1,15,850 per kg on 23 July 2025, has also dropped by ₹4342 per kg from that mark despite today’s increase.

Meanwhile, 23-carat gold opened today with a jump of ₹1500, now selling at ₹99,360 per 10 grams. With GST included, the price comes to ₹1,02,340 per 10 grams, excluding any making charges that jewelers may apply additionally.

Detailed gold price updates by purity

Prices have surged across all gold purities. Today, 22-carat gold rose by ₹1379, reaching ₹91,379 per 10 grams. With GST, it now costs ₹94,120.

18-carat gold prices increased by ₹1129 per 10 grams to ₹74,819. Including GST, the effective rate is ₹77,063.

14-carat gold, which is more commonly used in lightweight jewelry, now stands at ₹60,109 per 10 grams with GST.

Why gold and silver prices surged today

The sharp movement in gold and silver prices was triggered by multiple global economic factors. A notable reason is the decline of over half a percent in the Dollar Index, which led to higher demand for bullion. When the dollar weakens, precious metals often become more attractive to investors seeking security from currency fluctuations.

Adding to this are ongoing tariff-related uncertainties created by U.S. trade policy shifts. Recently, U.S. President Donald Trump announced new tariffs on dozens of countries. These tariffs, even as negotiations continue, have fueled concerns about rising inflation and slowing economic growth in the United States. The ripple effect is being felt across global markets, increasing the demand for safer investment options like gold and silver.

Additionally, weak job market signals in the U.S. are boosting expectations that the Federal Reserve may cut interest rates in September. Rate cuts typically make gold more appealing as they reduce the opportunity cost of holding non-yielding assets.

Price source and local market variation

The official spot prices for gold and silver are released by the India Bullion and Jewellers Association (IBJA). IBJA publishes gold and silver rates twice a day, once around noon and then again at 5 PM.

However, prices may vary from city to city depending on local market conditions, supply chains, and jewelers’ margins. It’s common for local rates to differ by ₹1000 to ₹2000 from the IBJA listed rates.

How much have gold and silver prices risen in 2025?

Since the beginning of this year, both gold and silver have shown significant appreciation. Gold has become ₹24,019 more expensive, while silver has increased by ₹25,491 per kg.

On 31 December 2024, gold opened at ₹76,045 per 10 grams and closed at ₹75,740. Silver opened at ₹85,680 per kg and closed slightly higher at ₹86,017 per kg. The surge over these months reflects growing concerns over inflation, global economic instability, and interest rate uncertainties.

Consumer impact and future outlook

This steep rise in gold and silver rates will directly affect consumers, especially those planning weddings, festivals, or large-scale jewelry purchases. Higher bullion rates typically lead to increased making charges and taxes, pushing retail prices even further.

At the same time, investors see this as an opportunity to diversify their portfolios. With rising uncertainty in global financial markets, more individuals and institutions are considering gold and silver as long-term hedges against inflation and currency volatility.

Analysts believe that unless the global economy shows signs of strong recovery or the dollar gains significant strength, the upward trend in gold and silver may continue in the near term.

On 4 August 2025, gold and silver prices showed a dramatic rise, shaking the bullion markets and drawing attention from both buyers and investors. With gold up by ₹1506 and silver by ₹1862, the momentum suggests strong investor confidence in precious metals amid global economic uncertainty. While these prices may offer attractive returns for investors, they also bring financial pressure for retail buyers. All eyes are now on global trends and monetary policy updates to see whether this price rally will continue or settle in the coming weeks.