Gold, silver prices surge as gold crosses Rs 1.54 lakh mark

Gold and silver prices both rose sharply in the bullion market during the festive season. On September 19, 2026, Indian bullion markets saw a strong surge in gold and silver rates. The price of 24-carat gold crossed Rs 1.54 lakh per 10 grams, while 22-carat gold reached Rs 1.44 lakh per 10 grams.

Among major cities, 24-carat gold was selling at Rs 1,54,580 and 22-carat gold at Rs 1,44,850 per 10 grams in Delhi. In Mumbai, 24-carat gold was priced at Rs 1,54,430 and 22-carat at Rs 1,44,350. In Bengaluru, 24-carat gold stood at Rs 1,54,420 and 22-carat at Rs 1,44,300. In Chennai, 24-carat gold was priced at Rs 1,54,430, while 22-carat gold was selling at Rs 1,41,560 per 10 grams there.

Silver also became costlier alongside gold. The average silver price stood at around Rs 2,50,100 per kilogram. On Friday, driven by strong global trends, silver rates in the futures market rose 1.25 percent to Rs 2,41,183 per kilogram. On the Multi Commodity Exchange, silver for December delivery rose Rs 27, or 1.25 percent, to Rs 2,41,183 per kilogram, with 3,082 lots traded.

Market experts said traders built fresh positions amid strong domestic market sentiment, pushing up silver futures prices. Typically, when demand is strong in the domestic spot market, traders on commodity exchanges such as the MCX start fresh buying in anticipation of further gains, directly supporting futures prices. Globally, silver prices in New York rose 2.39 percent to 66.78 dollars per ounce.

The rise in gold prices is being attributed to ongoing tension in the Middle East, recent attacks on oil refineries and pipelines, and the ongoing global tariff war, all of which have increased uncertainty in the market. In such a risky environment, investors turn to gold to keep their money safe, boosting demand and pushing up prices.

Gold prices in the world market are also getting strong support from Goldman Sachs, India's RBI, and central banks around the world, including China. Central banks worldwide are continuously buying gold to reduce their dependence on the US dollar in their foreign exchange reserves, which is also driving prices higher.