Mumbai: Gold and silver prices witnessed a strong rally on Tuesday, reaching new record highs. According to India Bullion Jewellers, silver prices surged by ₹26,859 to close at ₹3,44,564 per kilogram from the previous ₹3,17,705 per kilogram.
Meanwhile, 24-carat gold rose by ₹4,591 to an all-time high of ₹1,58,901 per 10 grams, compared to the earlier rate of ₹1,54,310 per 10 grams. The price of 22-carat gold increased from ₹1,41,348 to ₹1,45,553 per 10 grams.
Similarly, 18-carat gold prices climbed from ₹1,15,733 to ₹1,19,176 per 10 grams.
Along with the spot market, the Multi Commodity Exchange (MCX) also recorded gains in gold and silver prices. The gold contract for delivery on 5 February 2026 rose by 1.54 percent to ₹1,58,440, while silver contracts for 5 March 2026 jumped 8.54 percent to ₹3,63,299.
On the international front, however, gold and silver prices witnessed a decline. Gold prices fell by 0.15 percent to $5,114 per ounce, and silver prices dropped 3.17 percent to $111 per ounce.
Experts attribute the ongoing bullish trend in gold and silver to rising global uncertainty triggered by US tariffs, which has increased demand for safe-haven assets.
Additionally, silver prices are rising faster than gold due to demand outpacing supply. The industrial demand for silver has surged in recent years, driven by increased use in solar panels, electric vehicles, and other electronic devices.
This combination of factors continues to support strong price momentum for both precious metals in the domestic market.
My name is Bhupendra Singh Chundawat. I am an experienced content writer with several years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including technology, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
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