New Delhi, June 2 — The domestic bullion market witnessed a sharp upswing today, as gold prices surged by ₹290 to ₹320 per 10 gramswhile silver breached the ₹1 lakh per kg mark in Delhi. The upward momentum has been driven by global market cues, festive buying trends, and investor interest in safe-haven assets.

Gold Nears ₹98,000 for 24K in Several Cities

Across major Indian cities, 24-carat gold is now trading between ₹97,640 and ₹97,790 per 10 gramswhile 22-carat gold is priced between ₹89,500 and ₹89,650 per 10 grams.

Here’s a quick city-wise breakdown of today’s gold prices:

The consistent pricing trend across cities indicates a nationwide surge in demand and market valuation.

Silver Hits ₹1 Lakh in Delhi

Silver also saw a significant jump today. In Delhi’s bullion marketthe price of silver soared to ₹1,00,000 per kgmarking a psychological resistance level breached once again.

The spike is being attributed to:

• Increased industrial demand

• Investment interest amid inflation concerns

• Global price support from commodity exchanges

What’s Driving the Surge?

Experts suggest several contributing factors:

• Global market volatilityincluding geopolitical tensions

• Rising inflation and dollar fluctuations

• Safe-haven buying ahead of potential economic uncertainty

• Upcoming wedding and festive season prompting jewelry purchases

Market Outlook

Analysts expect the bullish trend to continue in the near termespecially if global markets remain volatile. Investors are advised to monitor international trends and currency movement before making bulk purchases.

Bhupendra singh chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur kiranhis insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.