Gold and silver prices are reaching new highs every day, and October 15, 2025, is no exception. In the last week, silver prices have surged by over ₹28,000, while gold prices have also seen a sharp rise. On Wednesday, both gold and silver experienced a significant spike in prices. The new prices are now effective in major jewelry markets across Madhya Pradesh, including Bhopal, Indore, Jabalpur, and Gwalior. This price increase comes as the festive season of Dhanteras and Diwali approaches. Experts believe the rise in prices is due to international factors and local demand associated with the upcoming festivals.

Gold and Silver Prices Surge Across Madhya Pradesh

The prices of both gold and silver have witnessed record-breaking increases in the last week. The rise is particularly noticeable on October 15, with new rates being implemented in the major bullion markets of Madhya Pradesh. Both metals are currently seeing record high prices, and the trend shows no sign of slowing down. These increases come ahead of the Diwali and Dhanteras celebrations, which are considered auspicious for buying gold and silver.

Gold Prices on October 15: A Sharp Rise

According to Bankbazaar.com, the price of 22-carat gold has increased significantly today. The price for 1 gram of 22-carat gold is now ₹11,840, compared to ₹11,540 the previous day, marking an increase of ₹300. This price surge is part of an ongoing trend that has seen gold prices rise steadily for the past several days.

The price for 8 grams of 22-carat gold is now ₹94,720, compared to ₹92,320 the previous day, reflecting an increase of ₹2,400. Similarly, the cost for 10 grams of 22-carat gold has reached ₹1,18,400, compared to ₹1,15,400 the previous day, indicating a rise of ₹3,000. These sharp increases are being attributed to the heightened demand driven by the approaching festive season.

24-Carat Gold Prices Also See Significant Increases

The prices of 24-carat gold have also been on the rise. As of today, the price for 1 gram of 24-carat gold is ₹12,432, up from ₹12,117 the previous day, showing a ₹315 increase. For 8 grams, the price is ₹99,456, compared to ₹97,936 the previous day, showing an increase of ₹2,520. The price for 10 grams of 24-carat gold has also risen to ₹1,24,320, compared to ₹1,21,170 the previous day, reflecting a ₹3,150 increase. This increase in 24-carat gold prices highlights the growing demand for pure gold, especially during the festive period.

Silver Prices Reach All-Time Highs

Silver prices are also witnessing a significant increase. On Wednesday, the price of 1 gram of silver in the bullion markets has reached ₹206, up from ₹195 the previous day, marking a record increase of ₹11. This surge in silver prices is noteworthy as silver is typically more affordable compared to gold, making it an attractive investment and purchase option for many buyers during the festive season.

The price of 1 kilogram of silver has also seen a major jump. The price for 1 kilogram of silver is now ₹2,06,000, compared to ₹1,95,000 the previous day, reflecting an increase of ₹11,000. This surge in silver prices is being seen as a record increase, with the metal reaching its highest prices in recent times.

Gold and Silver Price Increases Driven by Festivals

The record increases in both gold and silver prices are being largely attributed to the approaching festive season, particularly Diwali and Dhanteras. These festivals are known for their strong tradition of buying gold and silver, leading to increased demand. As a result, gold and silver prices have been climbing steadily, and experts predict that this trend will continue leading up to the festivals. The rising prices are also influenced by international market trends, which are having a direct impact on the local bullion market in India.

Experts suggest that the ongoing increase in prices is tied to a combination of domestic and global factors. The festive season, along with the demand for gold and silver as investments and gifts, is driving the rise. This price surge has caused an increase in the cost of both gold and silver, putting additional financial pressure on buyers looking to purchase these precious metals during the holiday season.

Why Gold and Silver Prices Are Rising

Several factors are contributing to the sharp rise in gold and silver prices. One of the primary reasons is the increase in global demand for these metals. In addition, the international economic climate, including fluctuations in global markets and the value of the US dollar, also plays a crucial role in driving prices upward. Additionally, the high demand during the festive season further boosts the prices, as people tend to buy gold and silver for investment and gifting purposes.

Moreover, geopolitical factors such as trade tensions, inflation concerns, and currency fluctuations can also impact the precious metals market. These global factors often lead to a rise in the prices of gold and silver, as investors tend to view them as safe-haven assets during uncertain times. Consequently, this has contributed to the rising prices seen in the domestic markets.

The Impact of Rising Gold and Silver Prices on Consumers

The significant rise in gold and silver prices has left consumers feeling the pinch. With prices increasing almost every day, buyers are now faced with paying more than they anticipated for their gold and silver purchases. The rising costs may lead some buyers to delay their purchases, while others may opt to buy smaller quantities of these precious metals. This increase in prices, while largely driven by demand during the festive season, is also a reflection of the broader economic environment, which has seen rising inflation and other global factors that affect commodity prices.

Despite these challenges, the demand for gold and silver remains high during Diwali and Dhanteras. For many people, purchasing these precious metals is a traditional part of their celebration, and they may be willing to pay the higher prices in order to continue this custom.

In conclusion, the prices of gold and silver have reached record levels on October 15, 2025. The rising prices are attributed to both domestic factors, such as the approaching festive season, and international factors that influence the bullion market. As we approach Diwali and Dhanteras, the prices of these precious metals are expected to continue rising. Consumers looking to purchase gold and silver during this time should be prepared for higher prices and may need to adjust their budgets accordingly.

The increase in gold and silver prices highlights the complex interplay between global economic trends and domestic demand, making it essential for consumers to stay informed about the latest price movements. Despite the higher costs, the tradition of buying gold and silver during the festive season remains strong, and many buyers are likely to continue investing in these metals, both for their cultural significance and as long-term assets.