In a dramatic turn, gold and silver prices in India have shattered previous records, reaching never-before-seen levels on Tuesday. The India Bullion and Jewellers Association reported a massive Rs 3,463 increase for 24-carat gold, now at Rs 1,47,409 per 10 grams—previously Rs 1,43,946. 22-carat gold followed suit, up to Rs 1,35,027 from Rs 1,31,855, and 18-carat at Rs 1,10,557 from Rs 1,07,960.
Silver outpaced with a Rs 15,370 per kg surge to Rs 3,09,345, from Rs 2,93,975. Futures trading mirrored the frenzy: gold February 2026 contracts gained 2.99% to Rs 1,49,989, while silver March 2026 rose 4.42% to Rs 3,23,993.
Global markets echoed the trend, with gold up 3.03% to $4,735/oz and silver soaring 7.64% to $95.28/oz. Trump’s tariff threats against Europe have heightened volatility, driving investors toward these safe havens. Beyond geopolitics, central bank buying and silver’s expanding use in renewables and EVs are supercharging demand.
As economic headwinds persist, this rally signals a broader flight to quality assets. Market watchers anticipate sustained upward pressure unless global tensions ease, making gold and silver prime portfolio hedges right now.