New Delhi witnessed a sparkling rally in precious metals this week, with gold and silver prices soaring to new heights amid global uncertainties. According to market data, 24-carat gold jumped by more than 2,300 rupees per 10 grams, closing at 1,55,066 rupees, up from 1,52,765 rupees last week.
The momentum didn’t spare other variants either. 22-carat gold climbed to 1,42,040 rupees per 10 grams from 1,39,933 rupees, while 18-carat gold rose from 1,14,574 rupees to 1,16,300 rupees per 10 grams. Silver stole the show with a staggering 7,881 rupees increase per kilogram, reaching 2,50,314 rupees from 2,42,433 rupees.
Spot market highs were recorded on February 20, with 24-carat gold hitting 1,55,066 rupees per 10 grams and silver peaking at 2,50,314 rupees per kilogram. The week’s lows were on February 17, at 1,51,195 rupees for gold and 2,32,955 rupees for silver per kilogram.
This domestic surge mirrors international trends, where gold advanced to 5,080.90 dollars per ounce from 5,046.30 dollars, and silver to 82.343 dollars from 77.96 dollars. Escalating tensions between the US and Iran are cited as key drivers, pushing investors towards safe-haven assets like gold and silver.
Market analysts predict continued volatility as geopolitical risks persist. For jewellers and investors, this rally signals a opportune moment to reassess portfolios, while buyers might brace for higher costs ahead. The precious metals market remains a barometer of global stability, and this week’s gains underscore its resilience.