Gold Prices Surge ₹4,800 To ₹1.46 Lakh Per 10 Grams In Delhi; Silver Jumps ₹9,000
New Delhi, November 4, 2026: Precious metals roared back in the national capital, with gold prices rising by Rs 4,800 to Rs 1.46 lakh per 10 grams on Wednesday as renewed festive buying and a sharp global rebound lifted bullion rates. The yellow metal of 99.9 per cent purity climbed Rs 4,800 to Rs 1,46,600 per 10 grams, inclusive of all taxes, from Tuesday’s closing level of Rs 1,41,800 per 10…
New Delhi, November 4, 2026: The price of gold surged by Rs 4,800 to Rs 1.46 lakh per 10 grams in Delhi on Wednesday, as heightened festive purchasing and a significant global recovery propelled the precious metal's value. The 99.9% pure metal climbed Rs 4,800 to Rs 1,46,600 per 10 grams, encompassing all taxes, from Tuesday's closing price of Rs 1,41,800 per 10 grams, as reported by the All India Sarafa Association.
Silver mirrored the upward trend, jumping by Rs 9,000 to Rs 1.93 lakh per kilogram, from the previous day's Rs 1.84 lakh per kg. Saumil Gandhi, a Senior Analyst at HDFC Securities, attributed the surge to a robust recovery in global markets and rising festive demand in the domestic market. Rajeev Sharan, Head of Research at Brickwork Ratings, noted that the recovery might provide some relief to buyers preparing for the festive season, as gold had retreated about 8% from its October high.
The price decline was attributed to a strong US dollar, higher bond yields, and diminished expectations of Federal Reserve rate cuts, which led to profit-taking by traders. In contrast to last Dhanteras, when gold prices surged nearly 65% year-on-year, the metal has only gained a modest 5-7% since the previous festive season, offering households a period of price stability, according to Sharan.
In international markets, spot gold surged by USD 113.72, or 3%, to USD 4,043.93 per ounce, returning above the USD 4,000 threshold. Silver also gained 4.5% to USD 52.03 per ounce. The US dollar weakened following Democrats' victory in the midterm elections, bolstering bullion prices, said Praveen Singh, Head of Commodities at Mirae Asset Sharekhan.
Democrats controlling both chambers of Congress could introduce stricter regulations on the technology sector and curb data center investments, potentially impacting the US economy, Singh added. Jateen Trivedi, VP Research Analyst at LKP Securities, advised investors to monitor the dollar, US bond yields, and the Federal Reserve's policy stance to assess whether the bullion rally will persist.
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