New Delhi witnessed an unprecedented rally in gold and silver prices on Tuesday, propelling both precious metals to all-time highs amid global market turbulence. According to the India Bullion and Jewellers Association (IBJA), 24-carat gold jumped by a staggering Rs 3,463 per 10 grams to reach Rs 1,47,409, up from Rs 1,43,946. Similarly, 22-carat gold climbed to Rs 1,35,027 from Rs 1,31,855, while 18-carat gold rose to Rs 1,10,557 from Rs 1,07,960 per 10 grams.
Silver prices also skyrocketed, gaining Rs 15,370 per kilogram to hit a record Rs 3,09,345, previously at Rs 2,93,975. This surge extended to futures markets, with gold for February 2026 contracts rising 2.99% to Rs 1,49,989, and silver for March 2026 surging 4.42% to Rs 3,23,993.
Internationally, gold advanced 3.03% to $4,735 per ounce, and silver leaped 7.64% to $95.28 per ounce. The rally is fueled by escalating global uncertainties, particularly following US President Donald Trump’s announcement of tariffs on Europe, amplifying safe-haven demand.
Central banks’ aggressive gold purchases and sustained investor interest in secure assets are key drivers. Silver’s industrial demand is booming too, driven by its critical role in solar panels and electric vehicles, pushing prices to new peaks. Investors are closely watching how these geopolitical tensions and economic shifts will shape the precious metals market in the coming days.
