A geopolitical storm ignited fireworks in bullion bazaars this week, with gold prices vaulting over ₹4,000 per 10 grams and silver exploding by nearly ₹16,400 per kilogram. IBJA figures confirm 24-carat gold at ₹1,59,097, reflecting a ₹4,031 weekly gain from ₹1,55,066.
The uptrend was broad-based: 22-carat gold settled at ₹1,45,733 versus ₹1,42,040 prior, and 18-carat at ₹1,19,323 from ₹1,16,300. Silver’s rally stole the show, advancing ₹16,386 to ₹2,66,700 against last week’s ₹2,50,314.
Daily spot fluctuations were telling—gold topped ₹1,59,823 on February 25, eased to ₹1,58,022 next day; silver hit ₹2,69,367 before a ₹2,60,667 close.
World markets echoed the fervor: gold at $5,247.90/oz (up from $5,080.90) and silver $93.291/oz (from $82.343). US-Iran strains have supercharged safe-haven buying, analysts say.
This surge reverberates through India’s $70 billion jewelry sector, impacting exports and domestic demand. As investors recalibrate, experts highlight opportunities in physical holdings but stress risk management amid unpredictable tensions. The week closes with markets poised for more drama.