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Gold, Silver Prices Soar: Silver Nears ‘2.25 Lakh’, 22K Gold Ring Cost Jumps
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News18•01-10-2026, 10:00
Gold, Silver Prices Soar: Silver Nears ‘2.25 Lakh’, 22K Gold Ring Cost Jumps
- •Gold prices surged by Rs 833 on October 1, trading at Rs 146950 per 10 grams on MCX, while silver rose by Rs 1837 to Rs 225543.
- •International markets also saw gains, with gold at $4199 per ounce and silver at $61 per ounce on Comex.
- •A 5-gram 22K gold ring could cost approximately Rs 75,000–Rs 85,000, including making charges and GST.
- •The price hike is attributed to better-than-expected US inflation figures, reducing immediate Federal Reserve interest rate hike expectations.
- •Rising oil prices and stalled US-Iran talks are also contributing factors, increasing concerns about prolonged inflation and high interest rates.
Key Questions Answered
Better-than-expected US inflation figures reduced the chances of the Federal Reserve raising interest rates, triggering a price surge. However, rising energy prices and stalled US-Iran war talks also fueled concerns about long-term expensive oil, further impacting inflation and interest rates.
As of October 1, 2026, with the 22K rate at approximately ₹13,650 per gram, the gold alone costs around ₹68,250. Factoring in making charges and GST, the actual price can reach approximately ₹75,000 to ₹85,000.
On the MCX, gold traded at Rs 146,950 per 10 grams, while silver rose to Rs 225,543 per kilogram. In international markets on Comex, gold traded at $4,199 per ounce and silver reached $61 per ounce.
