Thursday’s trading session etched history in India’s bullion markets as 24-carat gold prices vaulted past 1.75 lakh rupees per 10 grams for the first time ever, settling at a breathtaking 1,75,340 rupees after a 10,705-rupee surge from 1,64,635 rupees, per the India Bullion and Jewellers Association.
The rally cascaded across categories: 22-carat gold reached 1,60,611 rupees per 10 grams (up from 1,50,806), and 18-carat climbed to 1,31,505 rupees (from 1,23,476). Silver mirrored the ascent, jumping 21,721 rupees to 3,79,988 rupees per kilogram from 3,58,267 rupees.
MCX futures amplified the excitement, with gold for February 2026 up 6.91% at 1,77,380 rupees and silver for March 2026 rising 6.13% to 4,08,982 rupees. Overseas, gold gained 4.28% to 5,569 dollars per ounce, silver 4.91% to 119 dollars per ounce.
Despite the Federal Reserve’s steady rates, LKP Securities analyst Jatin Trivedi pins the surge on rising global conflicts and US trade jitters. He forecasts support at 1.70 lakh and a key hurdle at 1.85 lakh per 10 grams for gold.
This milestone underscores gold’s enduring appeal as a safe asset in turbulent times. For Indian households, where gold symbolizes prosperity, these levels signal caution for buyers and opportunities for sellers. Market watchers predict volatility ahead, but the trajectory points upward, potentially redefining investment strategies nationwide.