In a week of unrelenting upward momentum, India’s gold prices have pierced the historic 1.54 lakh rupees per 10 grams threshold, while silver delivered an even more explosive performance. Data from the India Bullion and Jewellers Association reveals 24-carat gold added 12,717 rupees, settling at 1,54,310 rupees per 10 grams after starting from 1,41,593 rupees.
The gains cascaded across purities: 22-karat gold now stands at 1,41,348 rupees per 10 grams (previously 1,29,699 rupees), and 18-karat at 1,15,733 rupees (up from 1,06,195 rupees). Silver stole the spotlight, vaulting 35,815 rupees to 3,17,705 rupees per kilogram from 2,81,890 rupees.
Global markets set the tone for this surge. Gold soared to a record 5,017 dollars per ounce from 4,600 dollars, and silver made history by breaching 100 dollars per ounce, closing at 101 dollars.
Market veterans point to US-imposed tariffs sparking worldwide trade jitters, boosting demand for precious metals as hedges. Silver’s sharper rise reflects industrial pressures—demand from solar energy, EVs, and tech gadgets has overwhelmed supplies, creating scarcity that gold hasn’t matched.
With no signs of reversal, bullion traders anticipate continued strength. Physical demand remains robust ahead of festivals, though high prices may temper retail buying. Long-term, this signals a new era of elevated valuations in safe-haven investments amid economic headwinds.