India’s gold and silver markets erupted in celebration Tuesday as prices clinched all-time highs, highlighted by silver’s colossal near-27,000-rupee gain. Per India Bullion Jewellers, silver now commands 3,44,564 rupees per kilogram, a 26,859-rupee surge from 3,17,705 rupees. Gold’s 24-carat benchmark soared 4,591 rupees to 1,58,901 rupees per 10 grams, surpassing 1,54,310 rupees.
Supporting grades rallied too: 22-carat gold to 1,45,553 rupees per 10 grams from 1,41,348 rupees, and 18-carat to 1,19,176 rupees from 1,15,733 rupees. The bullish wave hit MCX, lifting gold futures 1.54% to 1,58,440 rupees (Feb 2026) and silver 8.54% to 3,63,299 rupees (Mar 2026).
Global counters weakened, gold down 0.15% at 5,114 dollars/oz and silver 3.17% at 111 dollars/oz. The divergence stems from US tariff anxieties igniting safe-asset rushes domestically, while international selling reflects profit-taking.
Experts spotlight silver’s edge from supply crunches amid booming industrial needs—solar tech, EVs, and electronics guzzle the metal, far exceeding jewelry use. Gold rides parallel waves of uncertainty-driven buying.
Implications abound: investors celebrate returns, manufacturers grapple with costs, and consumers brace for premium jewelry tags. This phase tests market resilience against macro headwinds, potentially heralding a new era of elevated valuations. As eyes turn to Fed signals and trade pacts, the bull run’s stamina remains a hot topic.