Gold and silver prices have once again surged sharply in the country's bullion market, with 24-carat gold breaching the Rs 1 lakh mark per tola, including GST. The sharp increase reflects continued volatility in global markets and strong investor sentiment toward precious metals.
According to the Indian Bullion and Jewellers Association (IBJA), the price of 24-carat gold on July 3 stood at Rs 97,786 per tola (11.66 grams). With 3% GST, the effective price has climbed to Rs 1,00,719 per tola, crossing the symbolic ₹1 lakh threshold once again.
The rates of other purity grades have also risen notably:
22-carat gold is priced at Rs 89,572 per tola, which becomes Rs 92,259 including GST.
23-carat gold has reached Rs 97,394 per tola.
18-carat gold rose by Rs 230, reaching Rs 73,340 per 10 grams (₹75,540 including GST).
14-carat gold increased by Rs 179 to Rs 57,205 per 10 grams (Rs 58,921 with GST).
Note: These prices do not include making charges.
Meanwhile, silver prices also witnessed a steep rise, increasing by Rs 1,060 to reach Rs 1,10,980 per kilogram.
Since the beginning of 2025, gold prices have jumped by a staggering Rs 22,046 per tola, while silver has surged by Rs 21,731 per kg. On December 31, 2024, 24-carat gold was priced at Rs 76,045, and silver stood at Rs 85,680 per kg.
Market experts attribute the continued rise in prices to geopolitical uncertainties, economic concerns, and a shift in investor preferences toward safe-haven assets like gold and silver.
With prices nearing or crossing all-time highs, buyers may exercise caution, while investors could continue to view bullion as a hedge against market instability.