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Gold, silver prices surged to new highs on safe haven demand, rupee depreciation

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Gold and silver prices surged to fresh record highs in domestic markets, trading above Rs.1,02,000 per 10 gm and Rs.1,17,000 per kg, respectively. The rally is supported by rupee depreciation against the dollar and strong safe-haven demand, amid concerns that political pressure on the US Federal Reserve could accelerate the pace of rate cuts.

  Markets are largely factoring in a 25 basis point rate cut in September, with growing expectations that Fed decisions may be influenced by political dynamics.  Recent US economic data showed slightly faster Q2 growth, but focus now shifts to the US personal consumption report due later today. A stronger reading could stoke fresh inflation concerns.

Market concerns over the Federal Reserve’s independence intensified after President Trump called for the dismissal of Fed Governor Lisa Cook. Rising inflation expectations also underpinned bullion, with the U.S. 10-year breakeven inflation rate climbing to a six-month high of 2.46%.

 Additional support for gold came from escalating geopolitical tensions, including U.S. tariffs and ongoing conflicts in Ukraine and the Middle East. Investor interest remains strong, with gold ETF holdings at a two-year high.

Asian demand stayed firm, with China’s net gold imports via Hong Kong surging 126.8% in July from June, more than doubling month-on-month.

Gold Oct Futures are expected to continue their upside momentum towards $3485 (~Rs 102,500), if it sustains above $3445 (~Rs 101,500). As Silver Sep Futures has broken its range and sustained above $38.80 (~Rs 116,000), upside momentum can swing prices towards a new high of $40 (~Rs 120,000).

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National News

Harit Zaveri Jewellers Celebrates A Bride’s Royal Spirit In An Indian Wedding With Its New Polki Collection

A Celebration Of Regal Femininity, Heirloom Craftsmanship, and The Refreshing Depth Of Emeralds.

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June 2026 A bride’s jewellery is never merely ornamental, it carries sentiment, memory, and the quiet power of tradition. With its newest Polki Collection, Harit Zaveri Jewellers introduces a refined take on royal Indian bridal jewellery, thoughtfully designed for the modern bride who embraces heritage while expressing her individuality with confidence and grace.

Crafted between 18kt to 14kt gold and enriched by Emeralds, Harit Zaveri Jewellers Polki collection celebrates a bride in her most transformative moment – poised between reflection and becoming. Every jewellery piece in the collection is designed to accompany her through this pause.

At the heart of the collection lies the richness of polki craftsmanship – raw, uncut diamonds admired for their old-world charm and regal appeal, long associated with royal Indian heirlooms. Paired with vivid emeralds, known to symbolise renewal, harmony, love, and abundance, the collection brings together heritage and elegance. The richness of green emeralds adds depth and freshness, creating jewels that feel both classic and strikingly modern.

The collection features an expansive range of statement and versatile pieces including necklaces, kadas, rings, earrings, and bridal sets, thoughtfully embellished with emeralds, pearls, and polki detailing.

This collection from Harit Zaveri Jewellers compliments classic reds and heritage weaves to contemporary ivories, pastels, and couture silhouettes. Whether layered with a traditional lehenga, paired with a modern sari drape, or styled for intimate pre-wedding celebrations, these pieces seamlessly adapt while elevating every bridal look with a quiet majesty.

These pieces are envisioned as modern heirlooms, where meticulous craftsmanship, precious materials, and timeless artistry come together to create pieces worthy of being passed down through generations.

Harit Zaveri, Joint Managing Director at Harit Zaveri Jewellers said:

“At Harit Zaveri Jewellers, we have always believed bridal jewellery should feel personal, something that reflects a bride’s story and individuality. Many of our clients naturally gravitate towards one-of-a-kind pieces that resonate with their personality and become part of their memories for years to come. With this Polki collection, we wanted to celebrate craftsmanship with the richness of emeralds, a stone that beautifully complements a variety of bridal colours and effortlessly completes a look. Above all, quality remains at the heart of everything we create because we believe jewellery should feel as enduring as the memories and moments attached to it.”

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