On August 26, gold and silver prices rose as the dollar weakened following the dismissal of U.S. Federal Reserve Governor Lisa Cook by President Donald Trump, who accused her of mortgage fraud. The unexpected move stirred market uncertainty, drawing investors toward safe-haven assets. At 9:10 a.m., gold futures for October delivery gained 0.27%, reaching ₹100,897 per 10 grams, while silver futures for September delivery climbed 0.31% to ₹1,16,314 per kilogram.
Over the long term, gold has shown exceptional growth, surging by about 1,200% since 2005, when prices stood at just ₹7,638. In 2025, gold crossed the ₹1,00,000 mark, rewarding investors with positive returns in 16 of the past 20 years. So far this year alone, gold prices are up 31%, making it one of 2025’s top-performing assets. Silver has also delivered strong results, remaining above ₹1 lakh per kilogram and rising nearly 669% in the same two-decade period.
Prices on August 26 varied slightly across major cities. In Mumbai, gold bullion was at ₹1,00,980 per 10 grams and silver bullion at ₹1,16,850 per kg. Delhi recorded gold at ₹1,00,820 and silver at ₹1,16,600. Kolkata saw gold at ₹1,00,860 and silver at ₹1,16,650, while Bengaluru quoted gold at ₹1,01,120 and silver at ₹1,16,980. Hyderabad posted gold at ₹1,01,230 and silver at ₹1,17,040, and Chennai had the highest rates, with gold at ₹1,01,360 and silver at ₹1,17,200. Across all cities, MCX gold stood at ₹1,00,900 and MCX silver at ₹1,16,490. Buyers should note that jewellers often add charges such as making fees, taxes, and GST, which can raise the final price.
Gold continues to be viewed as a safe-haven asset, attracting investors during periods of economic or political turbulence. Silver, while more volatile, remains a popular choice for diversification and risk management. The movements in precious metal prices not only reflect economic conditions but also capture broader investor sentiment. Keeping track of these shifts can help investors make informed decisions in an uncertain financial landscape.
