Tuesday brought glittering gains to India’s precious metals market, where gold and silver etched fresh record highs amid a nearly 27,000-rupee upswing in silver. Data from India Bullion Jewellers shows silver vaulting 26,859 rupees to 3,44,564 rupees per kilogram, eclipsing its prior level of 3,17,705 rupees. This surge underscores shifting investor priorities in volatile landscapes.
Priceless gold variants delivered equally impressive performances. 24-carat gold ascended 4,591 rupees to a pinnacle of 1,58,901 rupees per 10 grams from 1,54,310 rupees. 22-carat moved to 1,45,553 rupees per 10 grams (up from 1,41,348 rupees), and 18-carat hit 1,19,176 rupees from 1,15,733 rupees. MCX futures amplified the excitement, with gold up 1.54% at 1,58,440 rupees for February 2026 and silver leaping 8.54% to 3,63,299 rupees for March 2026.
Overseas, prices retreated: gold slipped 0.15% to 5,114 dollars per ounce, silver tumbled 3.17% to 111 dollars per ounce. Analysts link the Indian boom to US tariff escalations breeding global unease, propelling safe-haven flows into bullion.
Silver’s sharper ascent reflects industrial fervor outstripping supply. Explosive growth in solar panels, electric vehicles, and consumer electronics has turbocharged demand, making it a dual-purpose asset—investment and industry staple. Gold, meanwhile, benefits from traditional haven status.
This development ripples through India’s economy, from rural savers to urban traders. With wedding and festive demands looming, price sensitivity rises. Policymakers and market watchers eye central bank moves and trade wars for cues on longevity. Ultimately, this rally reaffirms precious metals’ enduring appeal in safeguarding wealth amid flux.