Gold moves close to ₹1.20 lakh mark per 10 grams:Rates up nearly ₹44,000 YTD; silver crosses ₹1.49 lakh per kg

Gold and silver prices reached an all-time high on October 7, 2025. According to the India Bullion and Jewelers Association (IBJA), 10 grams of 24-carat gold increased by ₹718 to reach ₹1,19,967. Previously, it was at ₹1,19,249. Meanwhile, silver became costlier by ₹605 to reach ₹1,49,438. Yesterday, Monday, it was at ₹1,48,833. This year gold becomes costlier by nearly ₹44,000 and silver by ₹63,000 Gold could reach ₹1.55 lakh
According to a recent Goldman Sachs report, the bank has set a target of $5000 per ounce for gold by next year. At current exchange rates, this would be approximately ₹1,55,000 per 10 grams in rupees. PL Capital’s Director Sandeep Raichura said that gold could reach ₹1,44,000 per 10 grams. 3 major reasons why gold prices are likely to rise… 1. Central Bank Purchases: Major banks worldwide want to reduce dependence on the dollar. Therefore, they are continuously increasing the share of gold in their treasury. Effect: When large banks keep buying, the demand for gold remains strong in the market and prices go up. 2. ‘Trump Factor’ and Policy Uncertainty: There is uncertainty regarding US policies. Talks of interference with the Federal Reserve weaken the dollar-bond market. Effect: Investors seek safe investments and rush towards gold. This causes gold prices to rise. 3. Long-term Asset: Gold never becomes completely worthless. It doesn’t get destroyed, exists in limited quantity and retains its value during inflation. Impact: Holding gold is mostly beneficial in the long term.