Gold rate today: Rupee’s low fuels Rs 1,600 per 10 gram surge in yellow metal, fresh peak

Gold and silver bulls dominated trade just hours before Friday’s close, with MCX gold contracts jumping over Rs 1,600 per 10 grams and silver futures rallying Rs 1,900 per kg to fresh lifetime highs. The surge in domestic prices mirrored strength in global markets while the rupee weakness against the US dollar gave fresh impetus to the bullion.

The October Gold futures hit the lifetime high of Rs 1,03,760 per 10 gram, gaining 1.6% or Rs 1,660 over the Thursday closing price while the December Silver moved in tandem rising by 1.6% as well taking the lead of over Rs 1,900 against the last closing price.

The gold prices on the COMEX were trading at $3,508.50 per troy ounce, up $34.20 or 1% while silver was trading at $40.300 per troy ounce, gaining
by $0.597 or 1.50% around 9:30 India time.

Gold and silver prices have moved at a comparable pace in 2025 so far with the yellow metal rallying over 35% while the white metal at a marginal lead rising by 36%.

Gold's performance in 2025 has been phenomenal, shattering all targets estimated at the beginning of the year. Analysts had estimated a target of Rs 95,000 for domestic gold in the bull case scenario.

Expert Anuj Gupta, Director at Ya Wealth Global Research, has recommended a buy strategy on gold and silver, opining the bull run to continue in the wake of US President Donald Trump's tariff policies.

However, rupee's new lifetime low against the US dollar triggered the domestic bullion prices. A weaker rupee makes imports to India expensive.

Indian rupee today ended down 0.65% at 88.1950 per USD versus previous close of $87.6250.

Commenting on the day's action, Jateen Trivedi, Vice President Research Analyst - Commodity and Currency at LKP Securities said that gold prices stayed positive as the market reacted to a falling rupee. "Rupee weakness provided MCX gold with a push, lifting the prices. Growing trade tariff concerns and unresolved India-US trade-related issues continue to keep gold elevated, while the depreciating rupee makes gold more expensive in Indian markets. In the coming days, gold prices are expected to remain in the range of Rs 1,00,000 - Rs 1,05,000," he said.

Gold rate in Delhi is around Rs 1,06,000 including a 3% GST.

Anuj Gupta, Director at Ya Wealth Global Research recommends a buy on gold and silver, estimating a further upside.

Gold trading strategy by Anuj Gupta

-- Buy Gold at Rs 1,02,500 with a stop loss of Rs 1,00,000 and a target of Rs 1,05,000.

-- Buy Silver at Rs 1,17,000 with a stop loss of Rs 1,15,000 and target price of Rs 1,22,000

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)