Gold and silver prices have surged to record highs on the eve of Dhanteras, as investors across global markets flocked to safe-haven assets amid rising geopolitical tensions and concerns over US credit quality. The festive season in India has further fuelled strong demand for precious metals, traditionally seen as symbols of prosperity and wealth.
According to Motilal Oswal, despite short-term volatility after Diwali, prices of gold and silver are expected to remain strong, with silver projected to reach ₹2.4 lakh per kilogram by 2026.
Global Tensions Drive Precious Metal Rally
The latest spike in prices has been largely attributed to growing worries over US credit ratings and rising tensions between Washington and Beijing, prompting global investors to seek safety in gold and silver.
These developments have led to a surge in safe-haven buying, pushing both metals to new highs in international markets.
Experts believe this momentum could continue as festive demand in India combines with global uncertainty to keep the prices elevated.
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Silver Prices in Madurai on October 17
In regional markets, silver prices also showed an upward trend.
As of October 17, Madurai silver rates stood at:
| City | 10 gram | 100 gram | 1 Kg |
|---|---|---|---|
| Madurai | ₹2,059 | ₹20,590 | ₹2,05,900 |
Although prices experienced a slight cooling after Dhanteras, the overall sentiment remains positive, supported by strong festive buying and investor confidence.
Outlook: Precious Metals to Stay Strong
Analysts suggest that gold and silver may continue to stay firm post-Diwali, especially if global uncertainties persist.
Motilal Oswal’s 2026 silver target of ₹2.4 lakh underscores the bullish outlook for precious metals in the coming years.
With Dhanteras and Diwali setting the stage, India’s festive season continues to sparkle — not just with lights, but with record-high gold and silver prices.
