Tuesday marked a historic day for India’s bullion market as gold and silver prices exploded to all-time peaks. IBJA data shows 24-carat gold surging Rs 3,463 to Rs 1,47,409/10g from Rs 1,43,946. 22-carat reached Rs 1,35,027 (from Rs 1,31,855), and 18-carat hit Rs 1,10,557 (up from Rs 1,07,960).
Silver’s ascent was even more spectacular, climbing Rs 15,370/kg to a record Rs 3,09,345 from Rs 2,93,975. In futures, gold for February 2026 advanced 2.99% to Rs 1,49,989, and silver March 2026 jumped 4.42% to Rs 3,23,993.
Overseas, spot gold rose 3.03% to $4,735 per ounce, with silver gaining 7.64% to $95.28. The catalyst? Rising global instability, exacerbated by President Trump’s Europe tariffs announcement, which has sparked fears of trade disruptions.
Adding fuel, central banks continue stockpiling gold as a reserve asset, while silver benefits from surging industrial needs in solar energy and electric mobility. This confluence of factors underscores why precious metals remain investor favorites during uncertain times. With no immediate relief in sight, prices could climb further, rewarding those who position early.