India’s gold and silver markets delivered blockbuster gains this week amid global headwinds. The India Bullion and Jewellers Association reports 24-carat gold at ₹1,59,097 per 10 grams, a robust ₹4,031 increase from ₹1,55,066 seven days prior.
Supporting grades also advanced: 22-carat to ₹1,45,733 (up from ₹1,42,040) and 18-carat to ₹1,19,323 (from ₹1,16,300). Silver posted an impressive ₹16,386 per kilogram rise to ₹2,66,700, eclipsing last week’s ₹2,50,314.
Spot trading revealed peaks and valleys—gold at ₹1,59,823 on February 25 and ₹1,58,022 on February 26; silver at ₹2,69,367 and ₹2,60,667 respectively.
Internationally, gold reached $5,247.90 per ounce (from $5,080.90) and silver $93.291 (from $82.343). Heightened US-Iran friction is credited for propelling these metals higher, as investors flock to them for stability.
For the average Indian household, these shifts mean pricier ornaments and investments. Bullion traders note increased hedging activity, while economists warn of broader inflationary pressures if the trend persists. Looking ahead, eyes are on diplomatic breakthroughs or escalations that could dictate the next leg of this bull run.