New Delhi: Gold and silver prices witnessed a sharp rise on Thursday, with gold crossing the ₹1.75 lakh mark per 10 grams for the first time. Silver prices also surged, reaching ₹3.80 lakh per kilogram.
According to the India Bullion Jewellers Association (IBJA), the price of 24-carat gold increased by ₹10,705 to an all-time high of ₹1,75,340 per 10 grams, up from the previous ₹1,64,635. Similarly, 22-carat gold rose from ₹1,50,806 to ₹1,60,611 per 10 grams, while 18-carat gold climbed from ₹1,23,476 to ₹1,31,505 per 10 grams.
Silver prices jumped by ₹21,721 to ₹3,79,988 per kilogram, compared to ₹3,58,267 earlier.
On the Multi Commodity Exchange (MCX), as of the latest reports, the February 5, 2026 contract for gold rose 6.91% to ₹1,77,380, while the March 5, 2026 contract for silver increased 6.13% to ₹4,08,982.
Global markets also reflected this upward trend, with gold prices rising by 4.28% to $5,569 per ounce and silver prices increasing by 4.91% to $119 per ounce.
Jatin Trivedi of LKP Securities noted that despite the US Federal Reserve maintaining interest rates, gold prices crossed the ₹1.75 lakh mark due to rising geopolitical tensions and trade concerns involving the United States.
He further stated that the strong support level for gold is around ₹1.70 lakh per 10 grams, while resistance is expected near ₹1.85 lakh per 10 grams.
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.
Leave a Comment