Hyderabad: Gold and silver prices surged to fresh record highs on Monday, October 6, as festive buying ahead of Diwali and strong global cues lifted bullion demand. Traders said increased spot market activity and safe-haven buying further fuelled the rally.
On the Multi Commodity Exchange (MCX), Gold December futures climbed to an all-time high of ₹1,19,979 per 10 grams, while Silver December contracts reached ₹1,47,888 per kg. By 1 p.m., gold traded 1.23% higher at ₹1,19,560, and silver gained 1.30% at ₹1,47,639.
Global cues boost bullion rally
Globally, gold crossed the $3,900-an-ounce mark for the first time. Investors moved toward safer assets amid growing fears of a US government shutdown. Moreover, expectations of rate cuts by the US Federal Reserve added further momentum to the rally.
Analysts explained that uncertainty surrounding US President Donald Trump’s trade and immigration policies continues to dampen investor confidence. Consequently, a weaker US dollar, coupled with heavy central-bank buying in China and India, helped drive gold and silver prices to new highs.
Domestic demand keeps gold shining
In India, gold prices have already risen over 50% this year. Experts said strong festival and wedding-season demand continue to support the upward trend. Furthermore, they noted that gold remains a preferred hedge against market volatility and inflation risks.
Over the past 20 years, gold prices have skyrocketed 1,200% from ₹7,638 per 10 grams in 2005 to over ₹1,00,000 in 2025. Year-to-date, the yellow metal has gained 31%, confirming its place among the top-performing assets of 2025.
Silver holds strong amid global volatility
Meanwhile, silver has maintained steady momentum. The white metal has traded above ₹1 lakh per kg for several months, supported by industrial demand and safe-haven buying. Over the past two decades, silver has gained 668.84%, reflecting sustained investor trust in precious metals.
Gold and silver prices in Hyderabad — October 6
In Hyderabad, bullion markets mirrored the national trend. Gold bullion traded at ₹1,19,570 per 10 grams, while MCX gold quoted ₹1,19,625 per 10 grams. Silver bullion stood at ₹1,47,220 per kg, and MCX Silver 999 traded at ₹1,47,173 per kg. Jewellers said strong pre-Diwali demand and positive global sentiment kept prices elevated across city markets.
