Bullion markets in India erupted Thursday as gold prices achieved an extraordinary feat, surpassing 1.75 lakh rupees per 10 grams of 24-carat for the inaugural time at 1,75,340 rupees—a 10,705-rupee leap from 1,64,635 rupees, according to the India Bullion and Jewellers Association.
Comprehensive gains marked the board: 22-carat gold advanced to 1,60,611 rupees per 10 grams from 1,50,806, 18-carat to 1,31,505 from 1,23,476. Silver prices rocketed 21,721 rupees to 3,79,988 per kg, previously 3,58,267 rupees.
On the MCX, gold February 2026 contracts surged 6.91% to 1,77,380 rupees; silver March 2026 climbed 6.13% to 4,08,982 rupees. Global benchmarks rose sharply too—gold by 4.28% to 5,569 USD/oz, silver 4.91% to 119 USD/oz.
Jatin Trivedi from LKP Securities explains the rally defies Fed rate stability, fueled by intensifying world tensions and US trade concerns. Support levels stand at 1.70 lakh, resistance at 1.85 lakh per 10 grams.
Beyond the numbers, this surge reflects broader economic shifts, bolstering gold’s role as a hedge against uncertainty. Jewelers report heightened inquiries, while economists debate impacts on imports and inflation. As prices perch at record peaks, the precious metal’s future looks bullish, urging investors to navigate this golden opportunity with savvy.