Gold has delivered a blockbuster performance this week, climbing more than 2,300 rupees and cementing its position as the go-to asset in turbulent markets. Silver followed suit, powering past 2.42 lakh rupees per kilogram and igniting fresh debates on commodity supercycles. These gains, observed across major benchmarks, have rippled through India’s vast jewelry and investment ecosystem, prompting a rush of transactions.
What sparked this meteoric rise? A potent mix of domestic and international triggers. The rupee’s slide against a strengthening dollar magnified overseas price movements, while festival-induced buying in India provided the local thrust. Globally, central banks from Turkey to India continued their gold hoarding spree, absorbing supply and propping up prices.
Silver’s outperformance steals the spotlight, with industrial users snapping up inventories for green energy applications. Photovoltaic demand alone accounts for a growing slice of consumption, per recent World Silver Survey data. Traders report thin liquidity at current levels, raising volatility risks.
As markets digest the week’s frenzy, sentiment remains cautiously optimistic. Potential headwinds include a stronger-than-expected US jobs report or de-escalation in conflict zones. Yet, with inflation metrics still elevated, the case for precious metals endures. Families across India are not just investing—they’re preserving wealth in an era of flux.