Gold and silver prices hit unprecedented levels on Tuesday, October 14, 2025, driven by a combination of geopolitical tensions, safe-haven demand, and supply constraints. Both precious metals continue their remarkable rally in the lead-up to the festive season, with gold rising 56% year-to-date and silver surging over 75%.

Current Gold Prices in India (October 14, 2025)

National Average Prices

• 24 Karat Gold: ₹12,868 per gram, ₹1,28,680 per 10 grams​

• 22 Karat Gold: ₹11,795 per gram, ₹1,17,950 per 10 grams​

• 18 Karat Gold: ₹9,651 per gram, ₹96,510 per 10 grams​

City-wise Gold Rates (per 10 grams)

Current Silver Prices in India (October 14, 2025)

National Silver Rates

Silver prices experienced a dramatic surge, reaching record levels across India:

• Per Gram: ₹189 (up ₹4 from previous day)​

• Per 10 Grams: ₹1,890 (up ₹40)​

• Per 100 Grams: ₹18,900 (up ₹400)​

• Per Kilogram: ₹1,89,000 (up ₹4,000)​

City-wise Silver Rates (per 10 grams)

MCX Futures Prices (Multi Commodity Exchange)

Gold Futures

• MCX Gold: ₹1,25,090 per 10g (up ₹461 or 0.37%)​

• Daily High: ₹1,26,930 per 10g​

• Daily Low: ₹1,24,243 per 10g​

Silver Futures

• MCX Silver: ₹1,57,448 per kg (up ₹2,803 or 1.81%)​

• Daily High: ₹1,62,700 per kg​

• Earlier Peak: ₹1,62,057 per kg (all-time high)​

The MCX silver rate reached ₹1,58,164 per kilogram as of 11:39 AM IST, marking a 2.28% rise.​

International Precious Metal Prices

Global Gold

• Spot Gold: $4,091.20 per ounce (down 0.45%)​

• Recent Peak: $4,116.77 per ounce (new record)​

• Gold Futures (December): $4,133 per ounce (up 3.3%)​

Global Silver

• Spot Silver: $51.06 per ounce (down 2.31%)​

• Recent High: $53.56 per ounce (all-time record)​

• London Market: Silver lease rates soared over 30%​

Gold has crossed the $4,000 milestone for the first time in history, gaining approximately 56% year-to-date.​

Key Market Drivers Behind the Rally

1. Geopolitical Tensions and Safe-Haven Demand

Fresh US-China trade tensions and global economic uncertainties have intensified demand for precious metals as safe-haven assets. Political instability and concerns over the US government shutdown have further boosted investor interest.​

2. Central Bank Buying Surge

Central banks purchased a record 1,180 tonnes of gold in 2024, more than double the historical average of 500 tonnes annually. India alone repatriated 214 metric tonnes from London vaults between 2022-2024.​

3. US Dollar Weakness

The dollar index has dropped nearly 10% in 2025, driving investors away from dollar-based assets toward gold. Trump’s tariff policies and America’s expanding debt load have contributed to dollar weakness.​

4. Interest Rate Cut Expectations

Markets anticipate additional Federal Reserve rate cuts this month and in December, making non-yielding assets like gold and silver more attractive.​

5. Supply Constraints (Silver-Specific)

Silver faces a historic short squeeze in London, with lease rates soaring and physical supply tightening globally. Industrial demand has also supported silver’s exceptional rally.​

6. Festive Season Demand

With Dhanteras on October 18, traditional Indian buying for the festival season is adding significant demand pressure. Hindu tradition considers purchasing gold and silver on Dhanteras highly auspicious.​

7. Currency Impact

The Indian rupee’s depreciation against the dollar has amplified domestic returns, making gold and silver even more expensive for Indian buyers. About 86% of India’s gold is imported, magnifying currency effects.​

Expert Market Outlook

Commodity Expert Perspective: “After Diwali, premiums of gold and silver in the spot market are expected to correct. Silver is at a premium of ₹30,000 and gold at about ₹8,000. We recommend booking partial profits at this juncture, even as the medium to long-term outlook remains bullish,” noted Ajay Gupta, commodity expert.​

Goldman Sachs Analysis: Analysts highlight that silver’s market “is less liquid and roughly nine times smaller than gold’s, amplifying price moves.” They warn that without central bank support, “even a temporary pullback in investment flows could trigger a disproportionate correction”.​

Market Volatility: Gold market volatility is currently rated as “LOW”, suggesting consolidation around current high levels, though silver remains highly volatile due to supply-demand imbalances.​

Investment Considerations

The unprecedented rally in both gold and silver presents both opportunities and risks for investors. While festive demand and structural factors support continued strength, the magnitude of recent gains suggests potential for profit-booking corrections in the near term.