India’s gold market etched history on Wednesday as prices stormed beyond ₹1.60 lakh per 10 grams in spot trading, powered by unrelenting bullish forces. India Bullion Jewellers confirmed 24-carat gold’s ₹5,734 spike to ₹1,64,635 per 10 grams, from ₹1,58,901. 22-carat followed at ₹1,50,806 (up from ₹1,45,553), and 18-carat at ₹1,23,476 (from ₹1,19,176) per 10 grams.
Silver dazzled with a ₹13,703 gain to ₹3,58,267 per kilogram, overtaking ₹3,44,564. MCX futures mirrored: gold Feb 2026 at ₹1,63,697 (+3.80%), silver Mar 2026 at ₹3,78,109 (+6.13%). Overseas, gold hit $5,287/oz (+3.24%), silver $112/oz (+5.78%).
Per LKP’s Jatin Trivedi, 4% MCX gold gains stem from Fed watch—minimal rate shift expected, propping prices. Tariff woes and haven demand propel the rally, but overheating signals emerge: resistance at ₹1,66,000, support at ₹1,60,000.
Jewellers brace for demand surge, investors eye hedging tools. This bull run, amid economic flux, redefines wealth preservation. Stakeholders must navigate peaks wisely, balancing euphoria with risk management for sustained gains.