Precious metals roared back in the national capital on Wednesday, with gold prices rising by Rs 4,800 to Rs 1,46,600 per 10 grams as renewed festive buying and a sharp global rebound lifted bullion rates, PTI reported, citing the All India Sarafa Association.

Source: PTI via The Sen Times

The yellow metal of 99.9 per cent purity climbed to Rs 1,46,600 per 10 grams, inclusive of all taxes, from Tuesday's closing level of Rs 1,41,800 per 10 grams. Silver also joined the rally strongly, surging by Rs 9,000 to Rs 1.93 lakh per kilogram, inclusive of all taxes, from Rs 1.84 lakh per kg in the previous session, according to the Sarafa Association figures carried by PTI and Amar Ujala.

Source: Amar Ujala (PTI)

Rs 1,46,600Gold per 10 grams (Delhi, 99.9% purity)
+Rs 4,800Gold's one-day rise
Rs 1.93 lakhSilver per kilogram
+Rs 9,000Silver's one-day rise

In the international market, spot gold jumped USD 113.72, or about 3 per cent, to USD 4,043.93 per ounce, moving back above the USD 4,000 mark, PTI reported.

The domestic futures market told the same story earlier in the day. IANS reported that gold and silver surged up to 3 per cent on Wednesday amid a weaker US dollar, lower Treasury yields and continued geopolitical uncertainty, with December gold futures on the MCX climbing 1.76 per cent to Rs 1,41,911 per 10 grams and December silver futures advancing 3.09 per cent to Rs 1,85,249 per kg. Traders note the Sarafa Association's Delhi retail rates, which include taxes, and exchange futures are different measures, which is why the levels differ.

Source: IANS

The rebound comes against a soft demand backdrop: IANS, citing the World Gold Council, reported India's gold demand fell 29 per cent year-on-year to 162.5 tonnes in the July-September quarter of 2026, as record-high prices, higher import duty and changing buying patterns weighed on jewellery purchases and investment demand. Wednesday's jump, two days before Dhanteras, will be watched closely by jewellers and households planning festive purchases.