India’s bullion bazaars are buzzing with excitement as gold vaults to a historic ₹1,54,227 per 10 grams for 24-carat, crossing the ₹1.5 lakh threshold amid a silver stampede to ₹3,19,097 per kg. The India Bullion and Jewellers Association notes a whopping ₹6,818 leap for top-grade gold from ₹1,47,409.
The uptrend rippled through: 22-carat gold hit ₹1,41,272 per 10g (was ₹1,35,027), 18-carat ₹1,15,670 (from ₹1,10,557). Silver vaulted ₹9,752 higher from ₹3,09,345 to its pinnacle.
Futures markets amplified the action—gold’s 2026 February contract surged 4.67% to ₹1,57,600; silver’s March contract gained 2.09% to ₹3,30,447. Global spots showed gold up 2.24% at $4,872/ounce, silver off 0.34% to $94.32.
At the heart of this boom lies rising world volatility, exacerbated by President Trump’s tariff salvo on Europe. Safe-asset appetite, central bank acquisitions, and surging industrial silver needs for green tech like solar and EVs are powering the ascent.
For jewelers and buyers in India, the implications are profound—making gold a tougher buy for celebrations. Traders foresee consolidation but no reversal, with eyes on U.S. policy shifts. This rally underscores precious metals’ enduring appeal as economic storm shields.