A blistering rally has propelled gold and silver to jaw-dropping all-time highs, thrilling long-term bulls while unnerving speculators. In key Indian exchanges, gold vaulted to ₹78,500 per 10 grams, silver to ₹98,000 per kilo—erasing weeks of consolidation in one explosive session.
Global cues dominate: Middle East hostilities spiked risk aversion, channeling billions into bullion. The dollar index’s slump below 100 aided the cause, as did China’s voracious import appetite post-stimulus.
Domestically, festive anticipation mixes caution. Zaveri Bazaar buzzes with hedged bets, but high street jewellers report footfall dips. ETF inflows hit records, signaling retail re-entry.
Diving deeper, silver’s outperformance stems from dual roles—store of value plus industrial staple. Photovoltaics alone could devour 20% more supply next year.
Prognosis? Upside biased, per consensus forecasts, though profit-booking looms. Investors, take note: In an era of fiat debasement and AI-driven disruptions, gold and silver reclaim center stage. This surge isn’t fleeting—it’s foundational.