Precious metals markets are on fire, with 24-carat gold blasting past ₹1.54 lakh per 10 grams and silver forging ahead to uncharted territory. Data from the India Bullion and Jewellers Association highlights the meteoric rise: gold gained ₹6,818 to ₹1,54,227 per 10 grams, surpassing the earlier ₹1,47,409.
Lower purities followed suit—22-carat gold reached ₹1,41,272 per 10 grams from ₹1,35,027, and 18-carat settled at ₹1,15,670 up from ₹1,10,557. Silver delivered a knockout punch, surging ₹9,752 to a record ₹3,19,097 per kilogram against ₹3,09,345 previously.
The momentum spilled into derivatives, where gold futures for February 2026 soared 4.67% to ₹1,57,600, and silver for March 2026 climbed 2.09% to ₹3,30,447. Overseas, gold added 2.24% to $4,872/oz, with silver slipping marginally to $94.32/oz.
Driving the surge is a cocktail of global instability—Trump’s Europe tariffs have rattled markets, boosting haven demand. Central bank hoarding and silver’s critical role in solar energy and electric vehicles are key catalysts. In India, this translates to pricier ornaments, impacting consumer sentiment.
Experts predict this isn’t a flash in the pan; ongoing trade frictions and inflation fears could propel prices higher. Retail investors are urged to track Federal Reserve moves closely, as any dovish tilt might extend the rally. In essence, gold and silver are shining brighter than ever in uncertain skies.