During the festive season, gold and silver prices have shocked buyers with unprecedented highs. On Monday, 10 grams of gold crossed the Rs. 1.23 lakh mark, setting an all-time record, while 1 kg of silver touched Rs. 1.57 lakh, also marking a new peak.

According to Delhi bullion market sources, gold prices surged by Rs. 2,700 in a single day, bringing the 10-gram 99.9% pure gold rate to Rs. 1,23,300. Similarly, 1 kg silver rose by Rs. 7,400 to reach Rs. 1,57,400, triggering concern among common buyers planning festival purchases.

Experts say several domestic and international factors are behind this sudden spike. The US government shutdown, the rupee hitting record lows against the dollar, and political developments in countries like France and Japan have fueled investor interest in precious metals.

Internationally, gold continues to rally. The price per ounce (approx. 31.10 grams) surpassed the $3,900 mark for the first time. Expectations of further rate cuts by the US Federal Reserve are also supporting this rally. Analysts predict that if this trend continues, gold may soon cross the $4,000 per ounce mark.