Precious metals markets in India delivered blockbuster gains this week, with gold crossing 1.54 lakh rupees per 10 grams and silver exploding past 3.17 lakh rupees per kilogram. The India Bullion and Jewellers Association reported 24-karat gold’s 12,717-rupee jump to 1,54,310 rupees per 10 grams, from 1,41,593 rupees a week ago.
Supporting categories shone brightly too: 22-karat gold reached 1,41,348 rupees per 10 grams (was 1,29,699 rupees), and 18-karat hit 1,15,733 rupees (previously 1,06,195 rupees). Silver’s ascent was meteoric, gaining 35,815 rupees to land at 3,17,705 rupees per kilogram, surpassing 2,81,890 rupees.
This mirrors an international bull run where gold hit an unprecedented 5,017 dollars per ounce, up from 4,600 dollars, and silver achieved a milestone above 100 dollars per ounce at 101 dollars.
Analysts link the momentum to US tariff escalations heightening global instability, channeling funds into gold and silver as ultimate refuges. Silver’s premium surge underscores industrial dynamics: surging use in renewables like solar panels, electric vehicles, and consumer electronics has strained supplies far beyond investment demand.
Looking ahead, the rally shows no fatigue. Heightened safe-haven buying amid policy uncertainties could propel prices higher. For Indian markets, this means recalibrating expectations—jewellery makers and investors alike must navigate this elevated price landscape with strategic foresight.